Gayle Belcher, CCIM,CPM
Managing Director205.369.3600
Alex KyriazisAssociate Advisor
CEDAR POINTEAPARTMENTS
429 WILSON AVE ETHOMASVILLE, AL 36784
SVN | KAHN PROPERTIES | 3600 CLAIRMONT AVE S, BIRMINGHAM, AL 35222 SALE BROCHURE
OFFERING SUMMARY
Sale Price: $1,228,000
Number Of Units: 27
Great multifamily investment property located in Thomasville, Al 36784. The property consists of 4 brick two-storybuildings.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Multifamily with Value Add
• Available Apts Totally Leased
• Great Floor Plans
• All Brick
Property Summary
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INVESTMENT OVERVIEW PROFORMA BASED ON CURRENT RENTS
Price $1,228,000Price per Unit $45,481GRM 7.6CAP Rate 7.5%Cash-on-Cash Return (yr 1) 12.03 %Total Return (yr 1) $44,291Debt Coverage Ratio 1.47
OPERATING DATA PROFORMA BASED ON CURRENT RENTS
Gross Scheduled Income $161,580Other Income -Total Scheduled Income $161,580Vacancy Cost $8,079Gross Income $153,501Operating Expenses $61,400Net Operating Income $92,101Pre-Tax Cash Flow $29,535
FINANCING DATA PROFORMA BASED ON CURRENT RENTS
Down Payment $245,600Loan Amount $982,400Debt Service $62,566Debt Service Monthly $5,213Principal Reduction (yr 1) $14,756
Financial Summary
UNIT TYPE COUNT % TOTAL RENT
2 BR/1 Bath 14 51.9 $510
2 BR/1 Bath 5 18.5 $480
2 BR/1 Bath 4 14.8 $550
2 BR/1 Bath 1 3.7 $455
Studio 1 3.7 $410
Studio 1 3.7 $380
2 BR House 1 3.7 $480
Totals/Averages 27 100% $13,465
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Unit Mix Summary
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INCOME SUMMARY PROFORMA BASED ON CURRENT RENTS PER SF
Gross Income $153,501 $1.54
EXPENSE SUMMARY PROFORMA BASED ON CURRENT RENTS PER SF
40% Expenses $61,400 $0.61
Gross Expenses $61,400 $0.61
Net Operating Income $92,101 $0.92
Income & Expenses
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Maps
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Retailer Map
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Cedar Pointe Apartments
Regional Map
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 10The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 5 MILES 10 MILES
Total population 260 5,314 10,623
Median age 32.6 32.9 35.3
Median age (Male) 32.3 32.7 34.7
Median age (Female) 32.8 33.1 36.3
HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES
Total households 75 1,547 3,329
# of persons per HH 3.5 3.4 3.2
Average HH income $51,305 $50,816 $47,257
Average house value $118,339 $85,843
* Demographic data derived from 2010 US Census
Demographics Map
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 11The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
ALEX KYRIAZIS
Associate Advisor
[email protected]: 251.591.9390 | Cell: 251.591.9390
PROFESSIONAL BACKGROUND
Alex joined the SVN team in the Summer of 2018. He graduated the University of Alabama with a degree in Finance and a specialization in Real Estate. He brings a good workethic to this SVN team with much knowledge in the MultiFamily area of Commercial Real Estate, as well as the Office, Retail, and Industrial fields. In his spare time, he enjoyshanging out with his friends and his girlfriend, watching Alabama Football and Basketball, and being outdoors. When it comes to tenant representation, finding a buyer for aproperty, or helping list a property, he is more than willing and able to satisfy your Investment and Real Estate needs in the most professional and productive mannerpossible.
SVN | KAHN PROPERTIES3600 Clairmont Ave SBirmingham, AL 35222
205.933.7788
Advisor Bio 1
CEDAR POINTE APARTMENTS | 429 WILSON AVE E THOMASVILLE, AL 36784 SVN | Kahn Properties | Page 12The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
AL #26622-0
GAYLE BELCHER, CCIM, CPM
Managing Director
[email protected]: 205.369.3600 | Cell: 205.369.3600
PROFESSIONAL BACKGROUND
Gayle Kahn Belcher has owned and operated a successful Property Management business since 1983. She has direct experience in managing Multifamily and CommercialProperties. Gayle also has experience in both the renovation of buildings as well as development from the ground up.
Gayle has also represented both Buyers and Sellers in the Sale of Investment Properties. The Investment Properties have been Assets in the Office, Multifamily, Retail andSpecialty Asset Classes. She is especially helpful in helping clients value their asset of choice.
Gayle is available to assist you in all your real estate needs including Investment Sales of Multifamily Properties, Office Buildings, Restaurants, Retail Shopping Centers,Tenant Representation and Landlord Representation.
EDUCATION
University of AlabamaBS Degree in Business
MEMBERSHIPS
CCIMCPMBCRC Director (Birmingham Commercial Real Estate Council)CREW BirminghamIREM President 1994 Local Chapter #43
SVN | KAHN PROPERTIES3600 Clairmont Ave SBirmingham, AL 35222
205.933.7788
Advisor Bio 2