Investment Highlights

  • Value-Add Opportunity through Upgrading Interiors & Bringing Additional Units Online: By renovating the property's remaining 126 units, new ownership could potentially add an additional $90,720 to annual NOI; By reconstructing a 20-unit building, new ownership can potentially collect an additional $208,560 in rental income
  • Immediate Expense Reduction Opportunity: New ownership will have the opportunity to add additional value to the property by installing low-flow plumbing fixtures, which could potentially decrease annual expenses by over $100,000
  • Convenient Downtown Access via I-59: The property is located off Gadsden Highway (16,950 VPD) with convenient access to I-59 (46,810 VPD), offering its tenants a 10-mile commute to Downtown Birmingham
  • Competitive Amenities Package: Ascot Place features the following amenities:
    • Playground
    • Swimming Pools w/ Tanning Deck
    • Sand Volleyball Court
    • Renovated Clubhouse w/ Cafe
    • Fitness Center
    • Picnic Area w/ Grills
    • On-Site Laundry Facilities

Location Highlights

Close Proximity to Quality Retail: The property is less than 4 miles from Pinnacle at Tutwiler Farm, a 445,988 SF lifestyle center anchored by Belk, JC Penney, & Best Buy; Additional nearby retailers include Walmart, Lowe's, Home Depot, Academy Sports & Outdoors, & Target

Significant Economic Development: In March 2017, Honda announced its plans to invest $85 million into its $2.2 billion, 3.7 million SF plant in nearby Lincoln; since 2011, Honda has invested more than $750 million and added more than 450 jobs to the area

Central to Major Employment: Ascot Place provides convenient access to some of Birmingham's largest employers, including:

  • The University of Alabama - Birmingham (23,000 jobs)
  • Regions Financial Corp (7,134 jobs)
  • Honda Manufacturing of Alabama (4,800 jobs)
  • St. Vincent's Health System (4,786 jobs)
  • Baptist Health System (4,633 jobs)

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