Projected IRR
40%
Projected Hold
3 Years
Year Acquired
2024
This 94-unit complex is located in one of the fastest growing MSAs in the Southeast (Birmingham, AL). We were able to purchase this asset from a distressed seller at an amazing basis of $71K/unit. The project plan centers around improving the interior units and exterior improvements to stabilize the asset (higher than normal vacancy at purchase) and performing a cash-out refinance at the end of year 1.
Birmingham is a rapidly growing market in a state that we have a strong presence in, so our excitement is high about the long-term rental market in this area.
741 Merritt Capital Dr. Ste 104
Wake Forest, NC 27587
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