Listed by Newmark - Birmingham
Unpriced
Terrace Court Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Units 40
Year Built 1908
Year Renovated 2010
Buildings 1
Multifamily | 40 Units
Marketing description
Terrace Court Apartments is located in the historic Five Points Neighborhood of Birmingham, Alabama.
This renovated historic building is located in a highly desirable area with outstanding walkability. Residents are steps away from UAB’s 636-acre campus, which employes over 26,000 people and generates $12.1 billion in annual economic impact.
Investment highlights
In-place rents trail comparable renovated historic assets by over $250 and nearby Class A properties command $2,000+ for 2 bedroom units. A new owner has the opportunity to drive rents, while maintaining affordability.
Pricing guidance is upper $5 millions, which is above a 7-cap going in.
Listing Contacts
Listed by Newmark - Birmingham
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