Sold October 2021
Riverchase Landing is a 468-unit workforce housing apartment community located within the Riverchase PUD of Hoover, Alabama. The property's exceptional location places residents within minutes of 10,000+ jobs and the State's largest concentration of retail venues. The City of Hoover is heavily sought after by both renters and investors alike, with its top-quality schools and new multifamily development restrictions. Notable employers found near the property include Blue Cross Blue Shield, Regions Bank, AT&T, and AFC. Since 2015, Birmingham has attracted over 1/3 of Alabama's job growth.
Three phases of construction were developed from 1984-1992 to complete Riverchase Landing. The property's floor plans are the largest in the submarket, averaging over 1590 square feet and offering spacious residences ranging from one-bedroom floor plans at 1070 square feet to three bedrooms two and one half bath plans at 1900 square feet. Community features include a clubhouse, laundry facility, state-of-the-art fitness center, tennis court, children's playground, three swimming pools, nature trails, and storage rentals. Interior unit features include: patios/balconies, ceiling fans, gas fireplaces*, double vanity sinks*, microwave ovens*, mini blinds, vertical blinds, stainless steel appliance packages*, sunrooms*, walk-in closets, pantry, carpeting, or faux wood flooring, breakfast bars, and some vaulted ceilings.
ApexOne Growth and Income Fund II purchased Riverchase Landing and will hold long-term to capture growth and appreciation.
* Select units