Listings / CASTLE IN CLOVERDALE

CASTLE IN CLOVERDALE 904 Felder Ave, Montgomery, AL 36106

Price $802,000

Cap Rate 7.25%

GRM 7.79

Price Per SF $57

Units 12

Price Per Unit $66,833

Gross Sq. Footage 14,028 SF

Year Built 1930

Status available

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Broker of Record
Kyle Matthews
License No. 110253 (AL)
Matthews Retail Group, Inc.
841 Apollo Street. Suite 150, El Segundo, CA 90245
310-919-5757

OPPORTUNITY

The Castle in Cloverdale Apartments is one of the most unique and desirable places for renters in this area of Montgomery. It is located in the Old Cloverdale District of Midtown Montgomery, AL and is walking distance to all of the local restaurants and retail in this upscale part of town. With Alabama State University also just blocks away, this is an ideal location with very little surrounding competing rental properties.

The units have all been completely renovated with new bathrooms, kitchens, and appliances making this a unique historical place to live for renters without compromising their desire for new, quality living space. These upgrades, paired with the massive layout of the units, allows an owner to command top of the line rents from day one with close to 10% upside to capture as leases turn over.

 

PROPERTY DESCRIPTION