516 E Glenn Ave
Auburn, AL 36830
The Vue at Glenn · Multifamily Property For Sale
·
72 Units
Property Facts
| No. Units | 72 | Lot Size | 3.35 AC |
| Property Type | Multifamily | Building Size | 53,000 SF |
| Property Subtype | Apartment | Average Occupancy | 99% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | C | Year Built | 1974 |
| Zoning | UN-E | ||
| No. Units | 72 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.35 AC |
| Building Size | 53,000 SF |
| Average Occupancy | 99% |
| No. Stories | 2 |
| Year Built | 1974 |
| Zoning | UN-E |
Amenities
Unit Amenities
- Dishwasher
- Washer/Dryer
- Hardwood Floors
Site Amenities
- Courtyard
- Laundry Facilities
- Pool
About 516 E GLENN AVE , AUBURN, AL 36830
Summit at Glenn, a 72 unit, 96 bedroom apartment community is located in the heart of Auburn, Alabama. Summit at Glenn has a stabilized track record across multiple lease cycles, while still offering massive revenue growth through a value add approach. The property is 100% pre-leased for the 2018-2019 school year putting gross rents at $48,800. It is situated in an A+ location, pedestrian to Auburn University and the popular downtown corridor which boasts local restaurants, retail, and collegiate nightlife. Sitting just 3 blocks from downtown, 1/4 mile to Auburn’s campus, and positioned across the street from ACC's 160 Ross, Summit at Glenn is insulated from new supply, and as a core asset will continue to display high occupancy and rental rate growth as enrollment outpaces supply. Sitting on 3.3 acres and zoned Urban Neighborhood East (UN-E), Summit at Glenn has an allowable density of 280 beds to increase bed count by 184; and awarding possibility for future redevelopment. In 2017, the asset underwent improvements including a full exterior paint, updated pool and decking, landscaping and some interior upgrades. New ownership would have the opportunity to upgrade unit interiors as desired, and to take the property to its highest and best use. **Please contact Brokers for OM and financials.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 48 | $687.50 | 650 - 840 |
| 2+1 | 12 | $790.00 | 840 |
| 2+2 | 12 | $840.00 | 900 |
Property Taxes
| Parcel Number | 09-09-29-2-002-094.000 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,038,180 |
Property Taxes
