Governors Parc Apartments - Montgomery, AL

228 total units
60%+ renovated unit interiors
93%+ occupancy
Average rent premium available: $70/unit
Year One offers a high 7% cap rate, with a clear pathway to achieving a fully stabilized 9% cap rate and double-digit yields by Year Two
Heavily renovated asset (over $6.5M total capex – nearly $30k/unit) with all new exteriors, roofs, stairways, mechanicals, electric, plumbing, windows, parking lot, etc.
The subject property sits next door to Baptist Medical Center Hospital and down the road from Alabama State University. The renovated community is perfectly suited to attract travel nurses, hospital staff and students, in addition to other resident profiles.
Strategic location, just off Hwy 80, providing residents with convenient access to primary retail & employment centers in Montgomery. Starbuck’s TJ Maxx, Home Depot all within 2.5 miles of the subject property.
10-minute drive from the Hyundai Manufacturing Plant under 3 miles from major grocery options like, Fresh Market, Publix, Aldi, & Walmart

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