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Hillcrest Apartments 100 Pinson Pl 44 Unit Apartment Building $3,200,000 ($72,727/Unit) 6.90% Cap Rate Birmingham, AL 35215
INVESTMENT HIGHLIGHTS
- Parking
- Updated Bathrooms, Newer Appliances
- All units include newer central heat & air conditioning
- Each unit has its own washer & dryer connections
- Price Below Appraised Value
- Low Property Tax Rate
EXECUTIVE SUMMARY
Rare find with high income potential, fully remodeled 44-unit apartment building located in Jefferson County, Alabama just outside of Birmingham & its surrounding municipalities. Hillcrest Apartments is close to key amenities including nationally known retail & restaurants as well as local entertainment favorites. This property attracts solid, hard working tenants looking for a somewhat rural area that is still close enough to downtown & suburbia amenities. The property offers drought tolerant landscaping, solid building materials, newer appliances, newer fixtures, newer HVAC, & newer roofs which presents the buyer with a lower maintenance property.
PROPERTY FACTS Under Contract
| Price | $3,200,000 | Building Class | C |
| Price Per Unit | $72,727 | Lot Size | 4.22 AC |
| Sale Type | Investment | Building Size | 41,600 SF |
| Cap Rate | 6.90% | Average Occupancy | 98% |
| No. Units | 44 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1977 |
| Property Subtype | Apartment | Parking Ratio | 1.93/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Zoning | R-4 - In Alabama, an R-4 zoning district is generally a Mixed Residential District, allowing for both single-family and multi-family housing. | ||
| Price | $3,200,000 |
| Price Per Unit | $72,727 |
| Sale Type | Investment |
| Cap Rate | 6.90% |
| No. Units | 44 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 4.22 AC |
| Building Size | 41,600 SF |
| Average Occupancy | 98% |
| No. Stories | 2 |
| Year Built | 1977 |
| Parking Ratio | 1.93/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-4 - In Alabama, an R-4 zoning district is generally a Mixed Residential District, allowing for both single-family and multi-family housing. |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Range
- Carpet
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Grill
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
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PROPERTY TAXES
| Parcel Number | 13-00-14-1-000-016.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $408,120 |
PROPERTY TAXES
Parcel Number
13-00-14-1-000-016.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$408,120
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Hillcrest Apartments | 100 Pinson Pl
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