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About
About Summer Place
The Cushman & Wakefield Sunbelt Multifamily Advisory Group is pleased to present the exclusive listing of the 136-unit Summer Place apartment community located in Mobile, AL. This asset is situated in the rapidly expanding West Mobile Submarket which has experienced 36% rent growth in the past five years. Built in 1975, Summer Place offers new ownership an outstanding opportunity to invest in a proven, value-add asset in a high growth submarket. Current ownership has renovated 74 units, with 29 fully renovated and 45 partially renovated. In addition, there is major operational upside potential for this asset via stabilization to 95% occupancy. By renovating partially renovated and classic units, the next investor can add $148K to NOI, significantly improving the property’s basis.
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