1113 9th Ave SW | Bessemer, AL 35022
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- LoopNet Team
1113 9th Ave SW
Bessemer, AL 35022
Birmingham Apartment Redevelopment · Hospitality Property For Sale
·
37,100 SF
INVESTMENT HIGHLIGHTS
- 113 – fully furnished units
- 15 units with in-unit washer/dryers plus on-site laundry facility.
- Year One high-8% cap, with path towards fully stabilized high-9% cap & double-digit yields
- Fully redeveloped asset with all new unit interiors, mechanicals, electric, plumbing, windows, roofs, etc.
- Expected completion date in Late February – Early March 2025.
- Average Projected Rents of $1,131/unit
PROPERTY FACTS
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built | 1973 |
| Building Class | C | Tenancy | Single |
| Lot Size | 2.39 AC | Parking Ratio | 2.83/1,000 SF |
| Construction Status | Converted | Corridor | Exterior |
| Building Size | 37,100 SF | ||
| Zoning | 0-1-A1 | ||
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.39 AC |
| Construction Status | Converted |
| Building Size | 37,100 SF |
| No. Stories | 3 |
| Year Built | 1973 |
| Tenancy | Single |
| Parking Ratio | 2.83/1,000 SF |
| Corridor | Exterior |
| Zoning | 0-1-A1 |
AMENITIES
- Pool
PROPERTY TAXES
| Parcel Number | 38-00-19-1-007-003.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $198,620 |
PROPERTY TAXES
Parcel Number
38-00-19-1-007-003.000
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$198,620
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