Selma Multifamily Investment
1300 Cloverdale Road Selma, AL 36703
1300 Cloverdale Road, Selma, AL, 36703
$5,375,000
For Sale
$5,375,000
120-unit apartment community in Selma, Alabama, with value-add potential.
Property Size133,710 SF
Price / SF$40.20
Days on Market238
Property Features for 1300 Cloverdale Road
General Information
- Standard status
- Active
- Size
- 133,710 SF
- Property subtype
- Multifamily
Listing Agency
(256) 653-0065
Listed by
Andrew Agee
(256) 653-0065
Source
Svn
Added: Nov 21, 2025 Checked: May 9 at 12:51 am
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Andrew Agee
Investment Insights
Based on property information with market context.
Addison Way Apartments, located at 1300 Cloverdale Road in Selma, Alabama, is a 120-unit, two-story townhome-style community. Constructed in 1970 and fully renovated in 2009, the property presents a value-add opportunity for investors due to the difference between current and potential rents. The complex offers spacious, unfurnished units and is known for its commitment to resident satisfaction, fostering a welcoming atmosphere. The property is well-maintained and has high occupancy rates. The 133,710 square foot building is positioned in a market with a solid industrial base, making it suitable for workforce housing. Investors can capitalize on operational improvements and rental growth in a stable market. Charging the maximum rents for units at Addison Way would result in a 40% increase to the current gross potential income, highlighting the asset’s strong rent growth potential. Selma is undergoing a period of reinvestment and renewal, supported by recent public and private investments. Over $700 million in industrial investment and the development of four new industrial parks have created thousands of jobs in the region. City-led initiatives focused on downtown revitalization and the expansion of housing options are making Selma an increasingly attractive market for multifamily investment.
Key Highlights
- Significant rent growth potential: Max rents could increase GPI by 40%.
- Value‑add opportunity due to the gap between effective and asking rents.
- Well‑maintained, renovated LIHTC asset offering both immediate upside and long‑term value.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Addison Way Apartments
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - 120-unit apartment community in Selma, Alabama, with value-add potential.
Where is this apartment building located?
The property is located at 1300 Cloverdale Road Selma, AL.
What is the asking price?
The asking price for this property is $5,375,000.
What are key features of this property?
This property features: Significant rent growth potential: Max rents could increase GPI by 40%.; Value‑add opportunity due to the gap between effective and asking rents.; Well‑maintained, renovated LIHTC asset offering both immediate upside and long‑term value.
