1130 Jack Warner PkwyTuscaloosa, AL 35404

Property Details for 1130 Jack Warner Pkwy

Year built

1987

Lot size

13.26 AC

Property type

Hospitality properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Tuscaloosa

County

Tuscaloosa

State

Alabama

Latitude

33.2211

Longitude

-87.5233

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].