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This is a 238 unit building in Atlanta GA (zip 30311)
Class “C+” units with a strong “Value-Add” component.
Current NOI = $549,000/year
Potential NOI = $640,000/year
The (36) two-story, garden style buildings were built in 1963, on 8.05 acres of land. The construction is wood frame with siding exteriors and pitched composition shingle roofing. Comprised of 196 units and (2) floor plans, the unit mix consists of (148) one-bedroom / one-bath units with 584 s.f., and (48) two-bedroom / one and a half bath units with 900 s.f. The net rentable area is 129,632 s.f. All units are individually metered for electric with water and sewer being master-metered.
The spacious all-electric apartment homes have a unique combination of sunrooms, balconies or patios and fireplaces, and are complete with fully-equipped kitchens including a refrigerator, dishwasher, and disposal. They are cable/internet ready and feature central heating and air, oversized closets, ceiling fans, extra storage, and washer/dryer connections.
The community amenities include a pool, fitness center, picnic area and business center, with a property manager and maintenance available 24-hours.
In 2012 / 2013 they received extensive renovations, including:
New Appliances, HVAC & Water Heaters
New Kitchen & Baths
New Plumbing & Electrical
Interior & Exterior Painting
New Doors & Windows
Price to be determined by market (finder’s fee of 3% applies to buyer at closing). Request NCNDA to receive more information.