This Multifamily property is Off-Market. Search below to find active commercial real estate for sale or lease.
Browse More Listings in Multifamily For Sale, Riverdale, GA or Georgia
5758 Georgia Highway 85, Riverdale, GA 30274
387 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 362,820 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Cap Rate:
- No. Stories:
- Year Built:
- Lot Size:
- 37.80 AC
- Listing ID
- Last Updated
- over 1 year ago
- Outstanding Location: Laurel Park, five minutes from Atlanta Hartsfield International Airport, is located near some of Atlanta' s largest distributio
- Unit Type/Size: Built in 1972, Laurel Park features studio, garden, and townhome style apartments. Of the 387 units there are 16 studio, 288 Garden
- In-Place Cash Flow: With the current rent collections, existing loan, and an expense reduction campaign, Laurel Park offers an attractive cash flow
- Additional Retail Land: Laurel Park has two +/- acres of excess land that has been zoned GB (General Business) by the city of Riverdale. A conceptu
Laurel Park features studio, garden, and townhome style apartments. Of the 387 units there are 16 studio, 288 Garden, and 83 townhome units available. Respectively the average unit sizes are 520, 910, and 1,100. This unit mix is very attractive in comparison to the surrounding available product.
In-Place Cash Flow:
With the current rent collections, assumable HUD financing, and an expense reduction campaign, Laurel Park offers an attractive cash flow stream for an investor.
Additional Retail Development Strategy:
Laurel Park has two +/- acres of excess land that has been zoned GB (General Business) by the city of Riverdale. A conceptual plan proposes a 1,100 SF retail building with two ingress/egress points: One is off Hwy85 and another off of Laurel Park' s private drive.
Management has recently completed interior and exterior renovations.
" Structural improvements
The property' s convenient location off of GA Highway 85 is close to I-75 and I-285, which offer access to all major traffic arteries leading to the City of Atlanta and surrounding metropolitan areas.
According to Dale Henson Associates' Atlanta Apartment Market Tracker 2007 Mid-Year 2007, the Clayton County submarket for C class properties experienced a 4.5% increase in occupancy while effective rents increased 2.5% indicating that Laurel Park has significant potential for income growth given the area' s upward trend with stable market occupancy.
Map of 5758 Georgia Highway 85, Riverdale, GA 30274 (Clayton County)
Research for 5758 Georgia Highway 85, Riverdale, GA 30274 (Clayton County)
- Demographics – Population, income & other demographics near 5758 Georgia Highway 85
- Research Price – Recent sales of similar properties
- Property Record Data – Historical listings, current tax, mortgage, owners & tenant info for this building
The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P