Ashbrook Apartments

Ashbrook Apartments is located in the ever-growing city of Albertville, located in the northeast of Alabama. Albertville has experienced tremendous growth with the building of lots of new restaurants, shops, boutiques, and a shopping plaza that includes an Ulta and Food City within the last couple of years. Albertville has recently broke ground on construction for a new movie theater, Lucas Cinemas, a ten screen luxury seating complex with an expected completion date of summer 2022. Albertville Alabama had a 2021 population estimate of 22,522 with a median household income of $51,095. Albertville is nicknamed the "Fire Hydrant Capitol of the World" as Albertville, AL is engraved on every fire hydrant the Mueller plant produces and ships worldwide. Mueller's Albertville plant, which launched production forty years ago, today has 490 workers, making it one of the top employers in Marshall County.SVN is pleased to present the opportunity to acquire Ashbrook Apartments, a brick, 2007 built 71-unit affordable apartment asset located in the fast growing city of Albertville, Alabama--45 scenic minutes east of Huntsville, Alabama. Current max rents allowable are over $1,000, and those rents are supported by an impressive average household income within 2 miles of $57,020. Ashbrook is the newest and nicest property in the Albertville market, but current ownership has not pushed rents since it was developed, and has only lightly managed the property, giving new ownership the ability to acquire this Class B+ Asset that will quickly appreciate to the top of this dynamic market.