Centennial Villa Apartment Complex For Sale
1428-1432 F.L. Shuttlesworth Drive
Birmingham, AL 35234
- Property Description – The complex consists of 32 units. All 2BR 1BA units. Each unit is approximately 803 square feet. Each apartment has split system CH&A for heating and cooling and separate hot water tanks. Each unit is individually metered for water. The heating and hot water are gas. All stoves are electric. Each unit has WD connections.
- Excellent Location/Access – The complex is located just north of downtown Birmingham in an area experiencing a lot of development. The complex is located less than 1/2 mile from the Birmingham Jefferson Civic Center, the Uptown Entertainment District, and the soon to be 55,000 seat Protective Stadium. The complex is easily accessible from I-65, I-20, and Highway 280.
- Good Operating History – The owners hired new property managers in the 4th 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 units are currently marketed between $425 and $450 per month with lots of room for value add upside. The property is a value add candidate.