Villages at Lennox Square

For Sale

2610 Mirabeau Dr SW, HUNTSVILLE, AL 35805

This HUNTSVILLE property for sale is located at 2610 Mirabeau Dr SW. Contact the listing broker for details on the current sale price for Villages at Lennox Square. Villages at Lennox Square is situated on a lot that is 15.77 acre in size.

Contacts

broker

Andrew Agee

SVN | AVAT Realty

Property Details

  • Property Type Multi-Family
  • Property Size 149,901 SF
  • Units 228
  • Lot Size 15.77 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 325
  • Year Built 1965
  • Year Renovated 2023
  • Date Updated Aug 28, 2024
The Villages at Lennox Square has also located just a 5-minute drive from two of the areas top employers: Redstone Arsenal ad Huntsville Hospital, in addition to being less than five minutes from a thriving downtown. Steps away from Lowe Mill Arts & Entertainment center Neighboring other class-A multifamily developments Hottest emerging neighborhood in the Huntsville area Extreme rental upside - When previous ownership acquired the property AVG rents were $564, now AVG rents are above $800 simply by organically increasing rents closer to the marketVillages at Lennox Square Apartments, a 229-unit apartment asset strategically located on 17 acres in the fastest gentrifying area in Huntsville, Alabama, only 1 mile from 900-bed Huntsville Hospital, 1.2 miles from exploding downtown Huntsville, 3.1 miles from major job engine Redstone Arsenal, and within 1/3 of a mile from a new 84,000 square foot Whole Foods Center. Villages at Lennox Square is in some ways the most desirable location in Huntsville for an asset of its type and is a truly unique asset with incredible upside for those looking for a relatively heavy lift with high upside. Current Ownership has fully renovated 34 units and is achieving up to a $300 premiums. This renovation of 15% of the units provides a clear path to effective rents over $1,050 for the next Owner. And as the 74 down units are brought back online over the next 24-30 months and rented Investment Highlights: 74 down units needing full rehab Total renovation cost of $7.2M “All in” price of $19.2M Projected 5-year IRR of 26%

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Highlights

  • The property is extraordinarily well positioned in the Huntsville market for many reasons:

Getting around

  • 63/100

    Walk Score ®

  • 22/100

    Transit Score ®

  • 62/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City HUNTSVILLE, AL
  • Neighborhood Old Town Huntsville
  • Zip Code 35805
  • Market Huntsville

Points of Interest

  • Marathon

    0.34 miles

  • Chevron

    0.49 miles

  • Parkway Liquor & Tobacco

    0.75 miles

  • Food Mart

    0.83 miles

  • Citgo

    0.94 miles

  • Fuel City

    1.08 miles

  • Dodge's Chicken & Gas Station

    1.13 miles

  • Exxon

    1.24 miles

  • Valero

    1.26 miles

  • Huntsville, AL Supercharger

    4.37 miles

  • Parking Garage

    0.42 miles

  • Safety City

    0.83 miles

  • Huntsville Hospital Employee Parking Garage

    0.95 miles

  • Blackwell Medical Tower Parking Garage

    0.98 miles

  • Lot V

    1.03 miles

  • Huntsville Hospital Visitor Parking Garage

    1.08 miles

  • Lot K

    1.12 miles

  • Garage M

    1.17 miles

  • The Heart Center Parking Garage

    1.19 miles

  • Franklin Medical Tower Parking Garage

    1.28 miles

  • SpringHill Suites

    0.79 miles

  • Embassy Suites

    0.93 miles

  • AC Hotel

    0.99 miles

  • Homewood Suites

    1.03 miles

  • Hampton Inn & Suites

    1.19 miles

  • 106 Jefferson Huntsville, Curio Collection by Hilton

    1.36 miles

  • Value Place

    1.94 miles

  • Days Inn

    1.97 miles

  • Super 8

    2.05 miles

  • Bama Inn

    2.07 miles

  • Whole Foods Market

    0.38 miles

  • ALDI

    0.53 miles

  • Parkway Place Mall

    0.65 miles

  • La Congeneida Mexican Supermarket

    0.75 miles

  • Walmart Supercenter

    0.91 miles

  • Publix

    1.03 miles

  • Halsey Foodservice

    1.51 miles

  • Walmart Neighborhood Market

    1.62 miles

  • Holiday International Market

    1.68 miles

  • Garden Cove

    1.88 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Andrew Agee

SVN | AVAT Realty