1130 Jack Warner PkwyTuscaloosa, AL 35404

Exceptional investment opportunity in Hillside Commons, a 138-unit (277-bed) student housing community in Tuscaloosa, Alabama. This Class B multifamily property boasts a 100% occupancy rate for the 2024-2025 school year, generating a pro-forma NOI of $1,532,048 and a 6.03% cap rate. Situated on 13.26 acres at 1130 Jack Warner Pkwy, it's conveniently located one mile from the University of Alabama. The property comprises 26 two-story buildings totaling 136,264 net rentable square feet. Originally built in 1987, Hillside Commons underwent a complete interior renovation in 2022, with $30,000 invested per unit. A $2 million clubhouse, completed in Fall 2024, features a resort-style pool, state-of-the-art fitness center, café, and student lounge. The property is zoned RMF-1 and offers a significant value-add opportunity due to rental rates currently 20% below the top third of comparable properties. With a 3% increase in University of Alabama enrollment in 2024 and 73% of students living off-campus, this property presents a strong investment with high barriers to entry in a powerful student market. The property is priced below replacement costs.