48 Midtown

Overview

  • 48-unit Class A apartments

  • Constructed in 2017

  • Located in Montgomery, AL in the historic neighborhood Old Cloverdale

  • Sold at a 5.85% cap rate in 2023 packaged with adjacent property Midtown Row

  • Investors achieved an IRR of 17% with package sale

  • 1.9x Equity multiple

  • 8% cash-on-cash return at sale

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Midtown Row