Hillside Commons | 1130 Jack Warner Pky
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Hillside Commons 1130 Jack Warner Pky
137 Unit Apartment Building For Sale Tuscaloosa, AL 35404
Investment Highlights
- Value - Add Opportunity through Increased Rents
- Lease Rates are 20% Below the Top 3rd of Comp Set
- $30,000 / Unit Interior Renovations Completed in 2022
- 100% Occupied for 2024 / 2025 School Year
- $2M Clubhouse + Resort Style Pool Opened Fall 2024
- High Barrier of Entry into a Power 4 Student Market
Executive Summary
Hillside Commons: 138 Units with 277 Beds
A premier off-campus student housing community located one mile from The University of Alabama, in Tuscaloosa.
A Brand-New Clubhouse delivered in the Fall of 2024 at a cost of $2M. Originally constructed in 1987, a full interior renovation was completed in 2022 at a cost of $30,000 per unit.
In addition to the resort style swimming pool & sundeck, the clubhouse offers a state-of-the-art fitness center, café, and student lounge featuring billiards.
With limited new inventory coming online for both on and off campus housing, Hillside Commons offers a unique value-add opportunity through increased rental rates, currently 20% ($198/bed) below the top 3rd of the comp set.
A premier off-campus student housing community located one mile from The University of Alabama, in Tuscaloosa.
A Brand-New Clubhouse delivered in the Fall of 2024 at a cost of $2M. Originally constructed in 1987, a full interior renovation was completed in 2022 at a cost of $30,000 per unit.
In addition to the resort style swimming pool & sundeck, the clubhouse offers a state-of-the-art fitness center, café, and student lounge featuring billiards.
With limited new inventory coming online for both on and off campus housing, Hillside Commons offers a unique value-add opportunity through increased rental rates, currently 20% ($198/bed) below the top 3rd of the comp set.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Sale Type | Investment | Building Size | 124,600 SF |
| No. Units | 137 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1987/2022 |
| Apartment Style | Garden | Parking Ratio | 3.23/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 13.26 AC |
| Sale Type | Investment |
| No. Units | 137 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 13.26 AC |
| Building Size | 124,600 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1987/2022 |
| Parking Ratio | 3.23/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Dishwasher
- Microwave
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Family Room
Site Amenities
- Controlled Access
- Clubhouse
- Fitness Center
- Pool
- Property Manager on Site
- Security System
- Furnished Units Available
- Gameroom
- Pet Play Area
- Community-Wide WiFi
- Maintenance on site
- Pet Washing Station
- Sundeck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 34 | $1,252 | 700 |
| 2+2 | 69 | $1,592 | 1,016 |
| 3+2 | 34 | $1,989 | 1,186 |
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PROPERTY TAXES
| Parcel Number | 30-04-18-2-001-003.000 | Total Assessment | $2,030,580 (2023) |
| Land Assessment | $88,400 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $1,942,180 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
30-04-18-2-001-003.000
Land Assessment
$88,400 (2023)
Improvements Assessment
$1,942,180 (2023)
Total Assessment
$2,030,580 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
zoning
| Zoning Code | RMF-1 |
| RMF-1 |
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Hillside Commons | 1130 Jack Warner Pky
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