I'm looking into a multifamily property in southeast Montgomery, AL. Can someone give me an overview of where the different neighborhoods are and what I can expect for the general metrics (ie: vacancy, rents, cap rate).
A lot of variables to consider. Let me know a street and I can advise.
Thank you, Greg, for responding. It's in the neighborhood of Gas Light Curve Rd. and Buckboard Rd. There's a Walmart right nearby. (At this time I can't be more specific.)
C area. Maybe C+.
What should I expect for vacancy and rents?
What should a gut renovation cost per unit?
What can I expect to pay for exterior site work?
I know this vague but I'm new to this and not local.
Does anyone know the median vacancy rate for the area?
Hi there are you a contractor in Montgomery?
Yes, contractor, property manager, buyers agent for investors.
@Hesh Landman - Hey Hesh!
Check out the Apartment Property Valuation website.
You can add in different parameters depending on the property your looking at! It spit out an average cap rate of 8.79%!