Turnkey Asset Following Major Renovation: The property underwent a substantial $190,000 renovation to its interiors, exteriors, and amenities including improvements, such as new black appliances, painted cabinets, updated counters, and a brand new pavilion with a grilling area.
Management Upside: Mulberry Place currently has part time manager and maintenance payroll expenses along with a management fee. New Ownership could potentially use a management company exclusively to reduce operating expenses.
Quick Access to Wallace State Community College: Residents of Mulberry Place have less than a 10 minute drive to Wallace State which has over 5,000 students enrolled and over 550 jobs.
Cullman County is a Top-3 Micropolitan: Cullman County, where Mulberry Place is located, ranked 3rd in Micropolitans in the U.S. for Industry in 2020 according to Site Selection.
Proximity to Top Alabama Cities: Hanceville residents benefit from being only 20 minutes from Cullman, where the top 3 companies offer over 3,000 jobs, 40 minutes from Birmingham, where over 90,000 jobs are available from the top 23 major employers, and an hour south of Huntsville, where more than 75,000 jobs are available from the top 18 employers.
Opportunity Zone Provides Attractive Development Opportunity: Hanceville is located less than 5 miles from Garden City’s Opportunity Zone, providing a future roadmap for developers in the county.