100 Carrington Park
Jonesboro, GA 30236
Carrington Park · Multifamily Property For Sale · 330 Units

***FINANCING AVAILABLE*** Please contact the listing brokers to schedule a property tour. Carrington Park Apartments is a 330-unit garden-style multifamily community centrally located in Jonesboro, Georgia. The property benefits from its strong location just off I-75 near I-675. Carrington Park is 97% occupied and offers investors significant cash flow as well as substantial upside potential through interior upgrades. Strong Occupancy With Increasing Cash Flow - Carrington Park is currently 97% occupied and generating more than $3.2 million in revenue. Total revenue has increased more than 11% over the last two years. This increase is particularly significant because it was achieved primarily without the benefit of a meaningful interior upgrade program. Interior Upgrade Program - Carrington Park has upgraded less than 5% of the total units. Upgrades include new black appliance package, new lighting package, new faucets, painted cabinets, installation of 2 inch blinds and new faux hardwood flooring. The approximate upgrade cost is $4,000/unit resulting in a $125 rental premium. Utility Cost Savings - Expense savings are available by installing water saving devices such as 0.9 g The approximate upgrade cost is $4,000/unit resulting in a $125 rental premium. Utility Cost Savings - Expense savings are available by installing water saving devices such as 0.9 gallon toilets and low flow shower heads. Spacious Unit Sizes - With a mix of 1BR (36%), 2BR (49%) and 3BR (15%) floorplans that range in size from 591 SF to 1,425 SF, Carrington Park offers a large average unit size of 1,042 SF. Attractive Well Designed Units - Nine Foot or Vaulted Ceilings, Bay Windows, French Doors to Private Patios or Decks, Washer/Dryer Connections, Garden Tubs, Fully Equipped Kitchens with Pantries, Fireplaces on all Top Floor Units. Comprehensive Community Amenities - Resort Style Swimming Pool, 24-hour Fitness Center, Business Center, Two Lighted Tennis Courts, Controlled Access Ingress/Egress, Detached Garages and Storage Units. Access - Carrington Park is located on Mount Zion Parkway equidistant (1.5 miles) from Exit 231 (Mount Zion Boulevard) and Exit 228 (Lake Spring Parkway) on I-75. The I-75/I-675 interchange is located less than 2 miles south of the Property. This convenient exposure to Atlanta's interstate network provides excellent access to all of metropolitan At