Montgomery 376 Portfolio

Brentwood Estates | 1974 Vintage | 152 Units

Woodley Oaks | 1973 Vintage | 104 units

Woodley Terrace | 1972 Vintage | 120 units




The Gulf States office of Marcus & Millichap is pleased to present the exclusive opportunity to acquire the Montgomery 376 Portfolio, a three property, 376 unit multifamily package located in Montgomery, AL. Located along the same street and within walking distance of one another, the Montgomery 376 Portfolio arrives to market offering future ownership opportunity to step into an attractive day one yield while capitalizing on accumulating critical mass at an extremely attractive per unit basis.

Each property within the portfolio has been recently capitalized, with $1.6mm+ in total CapX spend which has resulted in average portfolio occupancy approaching 90% and continued rental demand. Brentwood Estates is in process of receiving select roof replacements along with a full exterior re-paint across every building, work which is anticipated to be completed over the next 60 days. Portfolio revenue has also increased materially in recent months which will result in future ownership inheriting an attractive day one cash flow. Future upside remains via light value-add interior upgrades as well as implementation of a bulk internet program across two of the assets which upon full implementation will result in not only an $88,400 up front door fee but also $61,596 in net revenue annually for the duration of the five-year contract.

Portfolio overview below:

Brentwood Estates:

· 152 Units
· 1974 Vintage

Woodley Terrace:

· 120 Units
· 1972 Vintage

Woodley Oaks:

· 104 Units
· 1973 Vintage

The properties’ proximity to major employment centers, educational institutions, and healthcare facilities contributes to a robust demand for quality housing in the area. LAMP High School, which sits within a five minute commute of the portfolio, ranked as a top 25 High School in America in 2023 according to U.S. News and World Report. Additionally, convenient access to shopping centers, recreational amenities, and transportation hubs enhances the overall appeal for residents, fostering sustained interest and occupancy. The strategic location, coupled with the recent programmatic interior and exterior repositioning, provides an attractive choice for individuals seeking modern living within a thriving and accessible community.

Among the most notable job and economic announcements the city has had in its recent history, Montgomery has communicated plans to build an Inland Intermodal Transfer Facility which will connect it with the Port of Mobile. This will create over 2,600 direct jobs and have a significant economic impact on the market and is estimated to produce $340mm in business revenues and millions of dollars of state and local taxes. A link for more details on this milestone driver can be found here: $231M rail project to connect Port of Mobile to central Alabama. Technology giant Meta also recently announced development plans for a $800mm next-gen data center which will be built in Montgomery in the coming season.


Montgomery 376 Portfolio | Deal Room


The Montgomery 376 Portfolio will be offered free and clear of existing debt and both individual and portfolio offers will be considered. Please reach out to the Gulf States office of Marcus and Millichap for more information regarding this opportunity as well as our other listings which can be found below. We look forward to speaking soon!