Listed by Red Rock Realty Group
Unpriced
RoHo Townhomes
Details
Property Type Multifamily
Sub Type Apartment Building, Short-Term Rental
Units 8
Cap Rate 6.50%
NOI $264,596
Class A
Year Built 2023
Buildings 2
Stories 3
Investment Type Stabilized
2510 18th Street South, Homewood, AL 35209
Marketing description
Red Rock Realty Group proudly introduces the ROHO Townhomes, a rare Homewood Short-Term Rental community, to the market for sale. Built in 2023, these new construction townhomes are located in the city of Homewood and at the crossroads of some of the best dining, entertainment, and amenities not only in the Birmingham metro, but in the entire southeast. Located in the shadow of the Vulcan on the slopes of Red Mountain, these Class A townhomes feature garages, high-end finishes, patio decks, full laundry in-unit, and views of Shades Valley and downtown Homewood.
Investment highlights
- Proven short-term rental investment with an established record of strong demand, premium nightly rates, five-star guest reviews, and efficient operations.
- Offered at an attractive basis below current replacement and construction costs.
- Significant barrier to entry for competing product in the market.
- Competitive supply constraints apply to both townhome developments and short-term rental inventory.
- Positioned in a surrounding market where comparable short-term rental opportunities are limited.
- City of Homewood does not allow Single Family STR which creates key competitive advantage for ROHO.
- Stable year-round demand with limited seasonality and high occupancy.
- Average Daily Rate for nearby hotels and STR routinely exceed $300+ per night.
- Current ROHO Airbnb Daily Rate exceeds $320 per night!
- ROHO holds 'Guest Favorite' status on Airbnb with a perfect 5.0-star rating.
Listing Contacts
Listed by Red Rock Realty Group
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$264,595.63
$22,049.64/mo
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