4011 Eunice St Huntsville, AL 35805
- Commercial real estate
- 23,348 SF
Current Use by Public Records
- Commercial real estate
Property Details for 4011 Eunice St
- Property size
- 23,348 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents a portfolio of five apartment buildings totaling 23,348 square feet in the highly desirable southwest Huntsville, Alabama market. The portfolio comprises 35 one- and two-bedroom units boasting a remarkable 94.3% occupancy rate, generating a current NOI of $208,654 and a 7.88% cap rate. Built between 1960 and 1980, these properties have undergone significant renovations in 2021, 2022, and 2023, positioning them for immediate returns and further value appreciation. The strategic location in southwest Huntsville offers easy access to major employers like Redstone Arsenal and the U.S. Space & Rocket Center, ensuring strong rental demand. This value-add opportunity allows for further improvements to elevate the property to a C+ standard, maximizing rental income and overall return on investment. The portfolio includes five buildings situated on five separate pads, providing flexibility and potential for future development. This is a rare chance to acquire a virtually untouched asset in a sought-after Huntsville location, promising substantial returns for the discerning investor. The strong pro-forma NOI of $208,654 and a pro-forma cap rate of 7.88% further solidify this investment's potential. This portfolio represents a compelling opportunity to capitalize on the thriving Huntsville market and its robust economy.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Huntsville
- County
- Madison
- State
- Alabama
- Longitude
- -86.623058455371
- Latitude
- 34.694011174869
