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THE opportunity

Berkadia Real Estate Advisors LLC is please to present the opportunity to acquire Park Place Apartments, consisting of 40 units located in Millbrook, Alabama. Originally constructed in 2006, this property is located just outside of the city of Montgomery, AL.

Park Place is located in a strong rental market, with occupancy in the mid to high 90s range. Located just a short distance from I-65, this property is perfectly situated for commuters, heading towards Montgomery and Prattville. Due to the location, Park Place requires minimal marketing and promotion to maintain high occupancy. Although well maintained by current ownership, there is still significant upside, given the lack of renovations. Having no microwaves or dishwashers in any units, Park Place is well positioned for the next investor to complete minor updates, increase performance, and boost cash flow.

  • Great Class B Location in The Heart of Millbrook with Retail Surrounding
  • In Close Proximity to I-65 and Many Shopping OUtlets are Just Minutes Away
  • Well Maintained Asset with Very Spacious Units
  • Light Value Add Opportunity: Appliance and Flooring Upgrades and Great Rebranding Opportunity
  • Available Free and Clear

THE ASSET

PARK PLACE APARTMENTS

Park Place is located off of Main Street in Millbrook, AL, just minutes from I-65. This property offers its residents very spacious units and a strategic location, close to the state’s capital, Montgomery. Millbrook also offers one of the state’s most highly sought-after school districts. Park Place is also in close proximity to several grocery stores, including Winn- Dixie, across the street and a Walmart Super Center, approximately 2 miles away. In addition, there are many local retail shops and restaurants surrounding the property, making it a convenient location for residents. Being in a strong rental market, Park Place offers the next investor the opportunity to complete some minor renovations, implement RUBs and boost rents year 1.

LOCATION

CONTACT US

Investment Advisors

ABE MADDOX

Associate Director

Abe.Maddox@berkadia.com

205.403.5550

CALEB FRIZZELL

Associate Director

Caleb.Frizzell@berkadia.com

205.403.5544

BIRMINGHAM OFFICE

2120 16th Avenue South, Third Floor

Birmingham, AL 35205

Phone: 205.918.0785

Berkadia.com

Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
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