Places at Red Rock

Birmingham, AL
56 Unit Value-Add Apartment

Aquired: 2018
Sold: 2022

Investor IRR:
14.4% Projected
31.6% Actual

Equity Multiple:
2.27x Projected
2.79x Actual

Greenwood Beach Partners purchased this on-market, Class C multifamily property in the south side of Birmingham. A professional management team was installed, and 65% of the property’s units were upgraded with new kitchens, baths, flooring, and fixtures. The property exterior was cleaned up alongside the addition of exterior amenities such as a management office, a grill-and-chill area, and a common laundry room. The property was refinanced after two years to return most of the capital to investors.

1534 17th St S

1534 17th Street South
Birmingham, AL 35205