96,440 Square Foot Multi-Family Space For Sale @ 1505 Sparkman Dr Nw

Property tours are available on the following dates: Wednesday, May 17th, Thursday, May 18th, Wednesday, May 24th and Thursday, May 25th. To schedule a tour please contact Donald Gambril at 205-458-8110 or dgambril@rockadvisors.com or Micah Dodd at 205-458-8021 or mdodd@rockadvisors.com.Coventry Apartments is a 100-unit apartment complex located in Huntsville, AL. The Property consists of ten 2-story buildings that were built in 1977 and sit on a 9.1 acre site. The unit mix includes 16 1-bedroom units, 60 2-bedroom units and 24 3-bedroom units. Community amenities include a swimming pool and tennis court. The Property is centrally located to the area's major employers and education centers such as UAH, Lockheed Martin, Northrup Grumman and many others. Coventry also offers excellent access to the area's major thoroughfares and is located in close proximity to 8 million SF of high quality retail.Coventry Apartments has performed remarkably well over the past 12 months, averaging over 95% occupancy with incredibly stable income and NOI. Additionally, Coventry's submarket has performed exceptionally well over the past five years with growing occupancy rates and effective rents. Currently the submarket is 97% occupied. Huntsville has experienced tremendous job growth with close to 30,000 jobs added over the past 12 years. The demographic trends within the area immediately surrounding Coventry support multifamily investment with a projected growing population and median incomes over the next five years.