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Multifamily

McMillon

801 McMillon Ave, Birmingham, AL 35211

Listing Price: Request For Offer

Number of Units
46
Gross SF
120,000

Investment Overview

INVESTMENT OVERVIEW? The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire McMillon Apartments, 46 units located minutes from downtown Birmingham, AL. The asset boasts extremely strong historical occupancy while arriving to market 100% leased. McMillon Apartments recently executed a 3-year master lease with a non-profit organization across 85% of the units with average rents north of $900/month. Ownership has also injected strategic capital in recent years across a variety of key asset preservation areas, including select roofs, HVACs, interiors, surveillance, etc. McMillon Apartments will provide a strong and stable in-place cash flow to future ownership. This property is being offered individually or as a package and will be delivered free and clear of existing debt. Please reach out to the Gulf States office of Marcus & Millichap for additional information - we look forward to discussing these opportunities along with our other offerings!

Investment Highlights

  • McMillon has recently signed a three year master lease agreement with a non-profit organization covering 85% of the units with rents averaging north of $900/monthly.
  • The property currently sits at 100% physical and economic occupancy – trends that align historically and expect to remain as the property operates under the terms of the master lease.
  • Ownership has injected strategic capital in recent years across a variety of key asset preservation areas, including select roofs, HVACs, surveillance, etc.

Exclusively Listed By

Listing Price: Request For Offer

Number of Units
46
Gross SF
120,000

Investment Highlights

  • McMillon has recently signed a three year master lease agreement with a non-profit organization covering 85% of the units with rents averaging north of $900/monthly.
  • The property currently sits at 100% physical and economic occupancy – trends that align historically and expect to remain as the property operates under the terms of the master lease.
  • Ownership has injected strategic capital in recent years across a variety of key asset preservation areas, including select roofs, HVACs, surveillance, etc.

Investment Overview

INVESTMENT OVERVIEW? The Gulf States office of Marcus and Millichap is pleased to present the exclusive opportunity to acquire McMillon Apartments, 46 units located minutes from downtown Birmingham, AL. The asset boasts extremely strong historical occupancy while arriving to market 100% leased. McMillon Apartments recently executed a 3-year master lease with a non-profit organization across 85% of the units with average rents north of $900/month. Ownership has also injected strategic capital in recent years across a variety of key asset preservation areas, including select roofs, HVACs, interiors, surveillance, etc. McMillon Apartments will provide a strong and stable in-place cash flow to future ownership. This property is being offered individually or as a package and will be delivered free and clear of existing debt. Please reach out to the Gulf States office of Marcus & Millichap for additional information - we look forward to discussing these opportunities along with our other offerings!

Exclusively Listed By

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