CCF Houses SFR Portfolio | Assumable Debt Available Listing Details & Market Data

3345 Fernway Drive, Montgomery, AL 36111

  • For Sale $1,002,900
  • Property Type Multi-Family
  • Property Size 12,279 SF
  • Units 8
  • Date Updated Apr 9, 2024
Montgomery, Alabama, centrally located in the Sun Belt region, offers an advantageous location for businesses and residents alike. Positioned 153 miles from Atlanta, Georgia International Airport via Interstate 85, it provides convenient access to major transportation hubs. The city is also within a short drive of Birmingham, located 92 miles to the north, and the port city of Mobile, situated 169 miles away. Moreover, Montgomery's proximity to renowned Gulf Coast beaches, such as Pensacola, Navarre, and Destin, allows for easy weekend trips to the scenic shores of the Gulf of Mexico. As the capital of Alabama, Montgomery boasts a vibrant economic environment that has garnered multiple Chamber of Commerce awards for excellence. The city's "Imagine a Greater Montgomery" initiative showcases its commitment to shaping a new vision for the future. Montgomery's economic development strategy focuses on nurturing regional talent, diversifying the economy, transforming the city's image, and fostering a diverse and empowered community. The area is driven by several key economic factors, including Hyundai manufacturing, Maxwell & Gunter Air Force Base, major Amazon distribution centers, the Alabama State Capitol, Alfa Insurance, Kinpak, H2 Pharma, Dollar General transportation and logistics, Dow Chemical, and Conner Industries, among others. Additionally, the Port of Mobile, the ninth largest port in the nation, contributes significantly to the state's economic growth. The port facilitates the export of various goods, including containers, coal, laminate, flooring, iron, steel, frozen poultry, chemicals, soybeans, and lumber products. Montgomery's unwavering focus is on attracting large corporations, capitalizing on its diverse and highly skilled workforce. The city is dedicated to expanding air services, improving passenger traffic, and enhancing overall travel experience. Major initiatives supporting this vision are already underway, fortified by robust economic policies that include low taxes and attractive incentives, ultimately yielding greater economic benefits for businesses and residents alike.

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Highlights

  • Priced Well Below Replacement Cost at $82 A Square Foot
  • Value Add Opportunity via Rent Raise and Renovation Program
  • Centrally Located Portfolio For Easier Management
  • Assumable Debt | 4.64% - Total Return Year One > 9.82%
  • Rental Income Loss to Lease | 9.24%
  • Pro Forma Cap Rate | 7.32%
  • Strategic Ability to Sell Individually Into Historically Strong Single Family Market
  • Notable Economic Drivers | Hyundai Plant, Maxwell-Gunter AF Base,
  • State Capitol of Alabama, Alabama State University, Amazon, Alfa Insurance

Contacts

broker

Steven Paulsen

Open Market CRE

(954) 859-5003

Location

Getting Around

  • Walk Score ®

    Somewhat Walkable (65)
  • Transit Score ®

    Some Transit (29)
  • Bike Score ®

    Somewhat Bikeable (38)
Powered by Walk Score ®
  • City Montgomery, AL
  • Neighborhood Brentwood
  • Zip Code 36111

Points of Interest

  • Montgomery Union Station

    0.81 miles

  • BP

    0.86 miles

  • Exxon

    0.88 miles

  • Chevron

    1.33 miles

  • Entec

    1.82 miles

  • Murphy USA

    1.83 miles

  • Z-Tec

    1.84 miles

  • Pacecar

    1.88 miles

  • BP

    1.96 miles

  • Citgo

    2.04 miles

  • Chevron

    2.14 miles

  • One Commerce Street Parking

    0.59 miles

  • Chamber of Commerce Parking

    0.59 miles

  • Lot 5

    7.31 miles

  • Lot 1

    7.38 miles

  • Cahawba House

    0.49 miles

  • NYC Gyros

    0.55 miles

  • Dreamland BBQ Montgomery

    0.58 miles

  • Flames Grille

    0.58 miles

  • Mellow Mushroom

    0.60 miles

  • Wasabi Japanese Cuisine

    0.60 miles

  • Central

    0.61 miles

  • Jalapenos in the Alley

    0.61 miles

  • Jimmy John's

    0.62 miles

  • Wintzell's Oyster House

    0.62 miles

  • Alabama Community College System

    0.16 miles

  • Jones Law School

    0.27 miles

  • W B Paterson School

    0.44 miles

  • Baldwin Junior High School

    0.44 miles

  • Booker T Washington Junior High School

    0.45 miles

  • Houston Hill Junior High School

    0.55 miles

  • Central Area Vocational Center

    0.57 miles

  • Troy University - Montgomery Campus

    0.61 miles

  • Troy University

    0.61 miles

  • Chilton Elementary School

    0.78 miles

Contact Listing Broker

broker

Steven Paulsen

Open Market CRE

(954) 859-5003