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Talladega Downs Apartments 500 Sloan Ave W 102 Unit Apartment Building For Sale Talladega, AL 35160
Investment Highlights
- 100% covered Project Based Section 8 (Option 2 HAP contract)
- Family designated: Unit mix of 1, 2 and 3 bedrooms
- 90%+ occupied with wait list
- Located ~50 miles from Birmingham
Executive Summary
Talladega Downs Apartments presents a compelling opportunity to acquire a 100-unit multifamily community with stable, government- backed income and long-term upside potential. The property benefits from a 100% covered project-based section 8 option 2 HAP contract, providing dependable rental revenue. Designated for family occupancy, the community offers 1-, 2- and 3- bedroom units, supporting strong and consistent tenant demand. The property is 90% occupied with an active waitlist, demonstrating the ongoing need to affordable housing in the area. Current rents are below market, providing investors with a clear value -add opportunity through operational improvements and rent optimization.
Talladega Downs is located in a Qualified Census Tract (QCT), which may offer additional strategic benefits for investors utilizing low in come housing tax credit strategies.
Talladega Downs is located in a Qualified Census Tract (QCT), which may offer additional strategic benefits for investors utilizing low in come housing tax credit strategies.
Property Facts
| Sale Type | Investment | Lot Size | 6.00 AC |
| No. Units | 102 | Building Size | 105,196 SF |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Garden | Parking Ratio | 1.41/1,000 SF |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 102 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.00 AC |
| Building Size | 105,196 SF |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.41/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 16 | - | 715 |
| 2+1 | 86 | - | 850 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $547,728 CAD | |
| Land Assessment | $25,364 CAD | Total Assessment | $573,092 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$25,364 CAD
Improvements Assessment
$547,728 CAD
Total Assessment
$573,092 CAD
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Talladega Downs Apartments | 500 Sloan Ave W
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