1246 Graham Ave Florence, AL 35630
- Dormitories
Current Use by Public Records
- University 32 / Apartment Complex
Property Details for 1246 Graham Ave
- Property type
- Dormitories
- Property subtype
- Student housing
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Florence
- County
- Lauderdale
- State
- Alabama
- Longitude
- -87.690007
- Latitude
- 34.8168653
