1,833 Unit Multifamily Portfolio Birmingham, Alabama
The Birmingham portfolio is an opportunity to purchase 1,833 units in Birmingham. The properties consist of The Park at Carlyle, Park at Callington and Park at Buckingham. Acquisition will be structured where buyer will close at specified benchmarks. Seller will continue on as a construction company to complete a committed renovation plan as well as manage the properties with incentives to receive a portion of future valuations.
Sellers has already invested and is further committed to a total budget of 19 million in capex.
Sellers has already invested and is further committed to a total budget of 19 million in capex.
CAPEX
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The Park at Buckingham
583 Units Site Work PARKING LOT $292,000 LANDSCAPING $232,000 INTERIOR DEMO $430,770 PLUMBING $323,700 ELECTRIC $422,969 HVAC $596,949 DRYWALL $277,000 CABINETS/COU$1N,1TE2R5,T0O0P0S VANITY $323,204 APPLIANCES $722,100 FLOORING $597,600 Clubhouse Reno$v8a5t0io,0n00 $5,870,088 |
The Park at Carlyle
629 Units Site Work PARKING LOT$305,000 LANDSCAPING$346,000 INTERIOR DEMO$469,695 PLUMBING$352,950 ELECTRIC$461,200 HVAC$650,890 DRYWALL$302,000 CABINETS/COUNTERTOPS$1,226,700 VANITY$353,000 APPLIANCES$787,350 FLOORING$652,000 Gate$180,000 $6,086,785 |
The Park at Callington
604 Apartments Site Work PARKING LOT $356,000 LANDSCAPING $325,000 INTERIOR DEMO $448,935 PLUMBING $337,350 ELECTRIC $440,806 HVAC $622,122 DRYWALL 279,300 CABINETS/COUNTERTOPS $1,167,750 VANITY $336,834 APPLIANCES $752,550 FLOORING $622,800 Gate $170,000 Clubhouse Renovation/Add$i1ti,o2n50,00 $6,939,447 |
Underwriting
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Gallery
Comps
