On the Market: 5 Interesting Listings for the Week of 5/26

The most recent listings include a retro lime green renovated property in Los Angeles and a Charlotte asset situated on 30 acres.

On the Market is a weekly department curating the most interesting recent for-sale CRE assets. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Mallory Bulman.

narrowNarrow Lane Villas

Location: Montgomery, Ala.

Rentable SF: 138,935 SF

Units: 141

Avg. Unit Size: 985 SF

Features: Affordable community with section 42 Low Income Housing Tax Credit; opportunity for conversion to market rate; located in Alabama’s capital city, which has a population of 374,000; close to various employers, including Hyundai Motor Manufacturing which employs 3,100 people; 109 units are affordable and 32 are market rate; in-place rents are $133 less than comparable properties.

Contact: Justin Uffinger, ARA Newmark, 205-582-3676


northlakeHighland Park at Northlake

Location: Charlotte, N.C.

Rentable SF: 230,992

Units: 240

Avg. Unit Size: 962 SF

Features: Built in 2014; located on 30.2 acres; value-add opportunity; comparable renter demographics to Uptown Charlotte and South End areas.

Contact: John Heimburger, ARA Newmark, 704-926-4439


catalinaCatalina Vista

Location: Tucson, Ariz.

Price: $3.2 million

Buildable Size: 44,459 SF

Units: 50

Price/Unit: $63,400

Features: Located in East Tucson; mountain views; nearby retail and employment; recent renovations, including energy-saving measures; average unit size of 894 SF; unit mix of one-, two- and three-bedroom apartments; select units have patios or balconies.

Contact: Hamid Panahi, Marcus & Millichap, 520-448-5045


preuss2009 Preuss Rd.

Location: Los Angeles, Calif.

Price: $3.8 million

Building Size: 8,912 SF

Units: 11

Price/Unit: $347,727.27

Features: Located in West LA submarket; property is situated on a 8,685 SF; unit mix of one studio unit, seven one-bedroom/one-bathroom units and three two-bedroom/two-bathroom units; recent renovations include in-unit laundry and stainless steel appliances.

Contact: William Everitt, Investment Real Estate Associates, 818-386-6888


river ranchRiver Ranch Apartments

Location: Canyon Lake, Texas

Price: $10.5 million

Units: 104

Price/Unit: $100,961.54

Building Size: 51,232 SF

Features: One- and two-bedroom floor plans; full-size washer and dryer hookups; onsite carports and storage; access to boating, sailing and watersports on Canyon Lake.

Contact: David Kanne, ACR Multifamily, 512-422-5384


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