Record Sale Of $7.3 Million For Apartment Complex In Pelham

PELHAM, AL — The real estate market in Birmingham has been heating up over the past five years, especially downtown. But, the heat has been spreading to the metro areas as well. Terrace 31 Apartments located off of Highway 31 in Pelham just sold for a record $7.3 million.

The complex has recently been renovated and was completed in two stages, stage one in the 1970s and stage two in the 1990s. The final purchase price is yet another example of Pelham’s market growth and reward for the investment in its new school system.

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