1355 Commerce Dr | Auburn, AL 36830
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1355 Commerce Dr
Auburn, AL 36830
The Avery at Auburn · Multifamily Property For Sale · 108 Units
Investment Highlights
- Significant Capital Infusion: Current ownership has completed recent interior and amenity renovations.
- Close Proximity to Auburn University: The property is 4.2 miles from the school which boasts an annual enrollment of 33,000+ students.
- Retail Options Are Plentiful: The Avery sits near both the Auburn Mall (50+ stores) and Tiger Town Outdoor Shopping Center (108 stores).
- Substantial Rental Growth: The Auburn market saw a 7.6% increase in rents over the past 12 months; The Avery has seen in-place rent growth of 8.6%.
- Major Employers Nearby: East Alabama Medical Center (3,700 jobs) is just 2.7 miles away. Briggs & Stratton (430 jobs) is less than 20 minutes' drive.
- Strong Economy: Non-farm payrolls were recently increasing at an annual rate of 12.8%, or a gain of about 7,600 jobs.
Executive Summary
Multifamily investment opportunity located in Auburn, Alabama.
PROPERTY FACTS
| Price Per Unit | $134,259 | Building Class | B |
| Sale Type | Investment | Lot Size | 11.95 AC |
| Cap Rate | 6.50% | Building Size | 108,207 SF |
| No. Units | 108 | Average Occupancy | 97% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1992 |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price Per Unit | $134,259 |
| Sale Type | Investment |
| Cap Rate | 6.50% |
| No. Units | 108 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 11.95 AC |
| Building Size | 108,207 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1992 |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Cable Ready
- Washer/Dryer Hookup
- Kitchen
- Refrigerator
Site Amenities
- Playground
- Property Manager on Site
- Pet Play Area
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 20 | - | 840 |
| 2+2 | 72 | - | 905 |
| 3+2 | 16 | - | 1,022 |
PROPERTY TAXES
| Parcel Number | 09-05-16-4-000-002.002 | Improvements Assessment | $1,339,960 |
| Land Assessment | $71,700 | Total Assessment | $1,411,660 |
PROPERTY TAXES
Parcel Number
09-05-16-4-000-002.002
Land Assessment
$71,700
Improvements Assessment
$1,339,960
Total Assessment
$1,411,660
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