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    1246 Graham Ave Florence, AL 35630

    Sponsored
    For Sale
    $19,000,000

    High-Yield Student Housing Portfolio

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents two prime student housing properties near the University of North Alabama in Florence, Alabama. The portfolio comprises 78 fully furnished units (168 bedrooms) across two locations: Grandview Campus (56 units, 120 bedrooms) and Nobles Crossing (22 units, 48 bedrooms). Both properties boast ample parking and are conveniently located within city limits, a short distance from campus. Grandview Campus, situated on a 4.1-acre lot at 1246 Graham Ave, Florence, AL 35630, and Nobles Crossing, located on a 1.6-acre lot at 748 Nellie Ave, Florence, AL 35631, underwent complete renovations in 2022 and 2023, respectively. All units feature modern amenities, including Apogee WiFi. The portfolio currently enjoys 100% occupancy, generating a strong Net Operating Income (NOI) of $1,073,341 and a 5.65% capitalization rate. The asking price is $19,000,000, representing a price per unit of $243,589.74. The seller offers financing options, providing up to 40% of the purchase price at a 5.9% interest rate. This turnkey investment benefits from a streamlined leasing process managed by the campus, minimizing operational overhead and maximizing returns. This is a rare opportunity to acquire a high-performing, well-maintained student housing portfolio in a desirable university town.

    Property Features for 1246 Graham Ave

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    78

    HighLights

    • On‑site property management handles all leasing.
    • All units underwent a complete renovation in 2022‑2023.
    Property Profile Location Intelligence

    Current Use by Public Records

    University 32 Apartment Complex

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Florence
    County
    Lauderdale
    State
    Alabama
    Longitude
    -87.690007
    Latitude
    34.8168653

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    FAQs

    What type of property is this?
    Multifamily property - High-Yield Student Housing Portfolio
    Where is this multifamily property located?
    The property is located at 1246 Graham Ave Florence, AL.
    What is the asking price?
    The asking price for this property is $19,000,000.
    What are key features of this property?
    This property features: On-site property management handles all leasing.; All units underwent a complete renovation in 2022-2023.;
    Request Owner's contact information
    1246 Graham Ave Florence, AL 35630
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1246 Graham Ave Florence, AL 35630
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