IMMEDIATE SCALE IN FRAGMENTED SUBMARKET
Southside 171 offers a rare opportunity for investors to achieve immediate scale in a submarket that consists of smaller assets held among fragmented ownership.
Stable Assets Poised for Value-Add
Following a value-add initiative, new ownership should be able to command rents of $966 ($1.41), increasing revenue by $300,000 annually.
Current ownership invested significant capital to enhance the exteriors, allowing new ownership to focus further on interior upgrades, which will directly translate to greater rent premiums.
HIGH-DEMAND FOR CLASS-A ALTERNATIVES
There is a significant spread (~$0.80 psf) between rents at new, Class-A assets (built 2010+) and older properties throughout Southside. This portfolio caters to this demand with its compelling locations and physical characteristics.
SOUTHSIDE: BIRMINGHAM’S PREMIER RENTAL SUBMARKET
Southside is Birmingham’s top rental submarket due to its proximity to Birmingham’s primary demand drivers: UAB (23,000 jobs & 21,000 students), the CBD (44,000 jobs), and the esteemed bars and restaurants throughout the area.