Description

The Downtown Lofts Portfolio offers three boutique multifamily properties in downtown Montgomery: The Icehouse Lofts at 10 East Jefferson Street, The Gun Store Lofts at 241 North Court Street, and Adams Avenue Flats at 500 Adams Avenue. Together, the properties total approximately 23,365 square feet and 32 residential units, creating a concentrated operating portfolio within roughly one mile of one another.

Each property reflects the character of adaptive reuse, with features such as exposed brick, hardwood floors, oversized windows, high ceilings, and in-unit laundry. The Icehouse Lofts includes four units and assigned parking or garage accommodations. The Gun Store Lofts contains eight units in a historic building dating to 1896, while Adams Avenue Flats contributes 20 units. The portfolio’s distinct buildings provide residents with authentic downtown living environments while allowing ownership to manage multiple assets within a compact geography.

The Jefferson Street and North Court Street properties are one block from Riverwalk Stadium and close to Riverfront Park, restaurants, entertainment, hotels, and the Alabama River. Adams Avenue Flats is approximately two blocks from the Alabama State Capitol and near downtown government and employment centers. The locations also provide convenient access to Interstate 65 and Interstate 85.

The portfolio is offered at $4,350,000, or approximately $135,938 per unit. Current marketed net operating income is $349,363, producing an approximately 8.03% capitalization rate. In-place annual rents total approximately $502,944. The combination of historic design, in-unit amenities, established downtown locations, and a concentrated management footprint offers investors a differentiated multifamily acquisition in Montgomery’s urban core.