Apollo Ridge

Investment Overview

We are pleased to present Apollo Ridge Apartments, a turn-key, 20-unit multifamily community strategically located in the highly desirable Research Park submarket of Huntsville, Alabama. Current ownership has invested in partial interior renovations, introducing modern white shaker cabinetry, updated countertops, plank flooring, and designer fixtures in select units. Offered at an attractive basis well below replacement cost, Apollo Ridge provides investors with a stable, high-occupancy asset (currently 95%) that generates immediate cash flow. Situated just minutes from major economic and lifestyle drivers—including Cummings Research Park, Redstone Arsenal, The University of Alabama in Huntsville (UAH), and the rapidly expanding MidCity District—the property benefits from structurally robust renter demand. With proven in-place operations and partial renovations already completed, new ownership is perfectly positioned to capture meaningful Net Operating Income (NOI) growth as they continue unit enhancements and benefit from the Huntsville markets growing job market.

Investment Highlights

• Highly Attractive Basis: The property is offered well below the cost of new replacement construction.
• Strong Projected Returns: The financial underwriting projects a highly compelling 5-year Internal Rate of Return (IRR) of approximately 19% and a 5-year average cash-on-cash return approaching 8%, allowing investors the opportunity to effectively double their equity over a 5-year hold.
• Turn-Key with Proven Cash Flow: The asset is currently operating at 95% occupancy and achieves an expense-adjusted 6.50% Trailing 12-Month (T-12) cap rate at the asking price, providing excellent day-one stability. Based on the most recent Trailing 1-Month (T-1) annualized actuals, the cap rate is pacing even higher at 6.97%.
• Proven Value-Add Roadmap: With partial renovations already implemented by current ownership (including new cabinets, countertops, and flooring), the incoming investor inherits a proven concept and a clear path to further enhance unit interiors to drive future rent premiums.
• Epicenter of Employment: Strategically located in the Research Park area, Apollo Ridge offers residents a minimal commute to some of the nation's largest defense and technology hubs, including Redstone Arsenal, which is projected to expand to a workforce of nearly 50,000 by 2025.
• Market Recovery Upside: As Huntsville's multifamily market continues to absorb recent construction deliveries, Apollo Ridge is perfectly positioned to capitalize on the return of strong organic rent growth projected for 2027 and 2028.