Investment Highlights
Class “A” Asset With Luxurious Interior Finishes: The Edison at Madison offers investors 252 Class A units with high-end finishes, highlighted by granite countertops throughout, premium vinyl plank flooring, stainless steel appliances, undermount sinks, white shaker cabinets, recessed lighting, 9’ ceilings, and washer/dryers included in all units.
Premier Amenities Package: The luxury amenity package includes a resort style pool with tanning deck, pickleball court, outdoor grilling stations, shuffleboard, outdoor fireplace & seating area, 24-hour fitness & spin room with Echelon Smart Fitness mirror, & a gated off-leash dog park.
Loss To Lease Burnoff: New ownership will have the opportunity to take advantage of 2nd generation leasing upside through burning off loss-to-lease. Currently, recent leases are renting for over $124 more than in-place rents.
Positive Absorption Through 2029 Leading To Future Rent Growth: Amid multiple economic pressures on developers, new construction starts have nearly come to a halt in Huntsville. Due to this, absorption is projected to be positive through 2029 for the submarket with rent growth anticipated to begin in 2025.
Exceptional Unemployment Rate: Huntsville’s unemployment rate has been below 3% since July 2021 with the lowest unemployment rate in the nation multiple different times over this time period. As of June 2024, the Huntsville unemployment rate is 2.5%, far below the US unemployment rate of 4.3%.
Huntsville’s Population Boom: Huntsville is growing rapidly, with thousands of new residents coming to the Rocket City every year. The Huntsville metro area has increased in population by more than 40,000 people since the 2020 census to an estimated 535,447 residents. World Population Review estimates Huntsville’s metro population to reach nearly 590,000 by 2029.
Impressive Demographic Metrics: The Edison at Madison is situated in an area with a highly educated and affluent population. Within a 3-mile radius, the average household income is $125,914. Over 50% of residents in the 35757 zip code hold a bachelor’s degree or higher, significantly surpassing the national average of 33%. Additionally, there are more than 190,000 jobs within a 10-mile radius.
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Address:100 Edison Ave NW, Madison, AL 35757
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City, State:Madison, Alabama
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County:Madison
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Units:252
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Year Built:2023
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Acreage:18.60
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Average Asking Rent:$1,413
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Average Unit SF:941