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Harrison Court Apartments

1017 17th Street SW
Birmingham, AL

$1,200,000
  • 42 Unit Harrison Court Apartment Complex For Sale Birmingham, AL

Property Information

  • Property Description – The complex consists of 42 units. 10- 1BR units and 32- 2BR units. The 1BR units are approximately 690 square feet and the 2BR units are approximately 880 square feet. Units have split system CH&A for heating and cooling. Coin operated laundry facility on site. The property has more than ample parking spaces to serve the complex.
  • Excellent Location/Access – The complex is located a few blocks off Jefferson Avenue in the West End neighborhood of Birmingham. The complex is located 1 mile from 85,290 square feet Heritage Town Center shopping center offering shopping, restaurants, and entertainment. The Harrison Park Recreation Center is within easy walking distance from the apartment complex. The complex is close to downtown Birmingham, Railroad Park, and easy access to I-65.
  • Good Operating History – The owners hired new property managers in the 2nd quarter of 2018 leading to better tenant mix and better revenue levels. Currently, the complex maintains a high occupancy level while maintaining good cash flow from operations. In the last two years the owner installed split system CH&A and other improvements inside the apartment units. The units average rent is currently $0.59 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