Southside 171

Investment Highlights

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.

RENOVATED EXTERIORS

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.

Investment Summary

  • Status: Available
  • Birmingham, AL
  • Total Units: 171
  • Year Built: 1970's
  • Occupancy: 97%
  • Avg Unit Size: 684 SF
  • In-Place Rent: $797 ($1.16 psf)
  • Proforma Rent: $966 ($1.41 psf)

Contact

Additional Info

Click here to sign confidentiality agreement and access additional information