Norwood Apartment Complex For Sale
1730 34th Place North
Birmingham, AL 35234
- Property Description – The complex consists of 8- 2BR 1BA units. Each unit is approximately 810 square feet in size. Units have split
system CH&A and washer dryer connections in the kitchen. The property has a large parking lot with ample spaces to serve the complex.
- Excellent Location/Access – The complex is two blocks off Norwood Blvd., in an area north of downtown Birmingham seeing a large amount of property renovations. The complex is located in a single family neighborhood that includes some smaller multifamily
properties. The property has easy access to the Uptown Entertainment district and the soon to be 55,000 seat Protective Stadium. Both I-65 and I-20 are easily accessible from the property.
- Good Operating History – The owners hired new property managers in the second quarter of 2017, leading to better tenant mix and better revenue levels. Currently, the complex maintains a high occupancy level while maintaining good cash flow from operations. The property currently rents for $0.51 per square foot with lots of value add upside.