Astoria
Multifamily
Astoria Apartments is a high-quality value-add asset located in Mobile, Alabama. The Property is located in the Mobile Bay region, an outstanding location for residents given its access to downtown Mobile, job drivers, and quality retail. The region is Alabama’s second largest metro area and a strong manufacturing hub with close proximity to the Port of Mobile and excellent connectivity to large rail, water, and interstate transportation systems.
According to RealPage, over the past five years, the Mobile/Daphne market has experienced rent growth, limited new supply, and a healthy average apartment occupancy of 95.5%. In the 2nd quarter of 2022, same-store effective asking rent for a new lease was up 14.3% year-over-year. That annual rent performance was above the market’s five-year average of 5.9%.
Known for its Southern hospitality, rich traditions, and enthusiastic spirit of fun and celebration—Mobile offers an unmatched quality of life. The Mobile Bay region is Alabama’s second‐largest metro area and Mobile County is the second‐largest county in the state.
Located at the mouth of the Mobile River at Mobile Bay, leading to the Gulf of Mexico, Mobile is only 30 minutes from the sandy white beaches of Dauphin Island, yet the mountains of northern Alabama are only a few hours away. With two airports, access to 15,000 miles of inland waterways, two interstate systems, five class-1 railroads, and the 9th largest port by volume in the U.S.—Mobile is connected to North American and world markets.
This is neither an offer to sell nor a solicitation of an offer to buy the securities described herein. An offering is made only by the Private Placement Memorandum. This sales and advertising literature must be read in conjunction with the Private Placement Memorandum in order to understand fully all of the implications and risks of the offering of securities to which it relates. A copy of the Private Placement Memorandum must be made available to you in connection with this offering. An investment in Carter Multifamily Growth & Income Fund, LLC involves a high degree of risk and there can be no assurance that the investment objectives of this program will be attained.
Company
Carter Multifamily
Location
Mobile, AL
Overview
Astoria is located in Mobile, AL, part of Mobile County. Astoria is a garden-style multifamily property with 252 apartment homes with 1-, 2-,and 3-bedroom floorplans. Mobile is the largest Gulf Coast city between New Orleans and Tampa.