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Norwood Apartment Complex For Sale

1730 34th Place North
Birmingham, AL 35234

$224,000
  • Norwood Apartment Complex For Sale Birmingham, AL

Property Information

  • 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.

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Steve Lazarus - Associate Broker at Southpace Properties

Contact:

Steve Lazarus
slazarus@southpace.com
205-271-7233