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Red Street Investment Sells 98-Unit Multifamily in Birmingham
Cushman & Wakefield has arranged the sale of Park on 23rd, a 98-unit multifamily property located in the Birmingham, AL submarket of Pell City.
Parker Caldwell, Craig Hey and Andrew Brown of Cushman & Wakefield represented the seller, Birmingham, AL-based Red Street Investment.
“Park on 23rd arrived to the market with a strong lease trend and substantial recent renovations, both of which attracted more out-of-state capital to the Birmingham metro,” said Caldwell.
The 1992-constructed, Park on 23rd features almost 75% two-bedroom units that average 1,047 square feet in size. The property half a mile from Interstate 20 and one mile from downtown Pell City. Park on 23rd amenities include on-site management, a gated pet park, swimming pool, BBQ/picnic area and a covered pavilion.
- ◦Sale/Acquisition
