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110 Johnson St 16 Unit Apartment Building $1,550,000 ($96,875/Unit) Cartersville, GA 30120
Investment Highlights
- Rent upside average of 18.6% with a clear renovation path to close the gap
- Dormant laundry facility represents untapped ancillary income at minimal cost
- Bartow County investment wave: Over $7.5 billion in committed industrial investment from Qcells, Hyundai/SK On, and Hanwha is creating thousands of ne
- $9,000/unit recommended renovation budget generating a $176/unit rent premium — roughly 22% return on renovation capital
- Modest entry basis at $96,875/unit for workforce housing in a growing Atlanta corridor
Executive Summary
110 Johnson Street presents a compelling value-add multifamily acquisition in Cartersville, Georgia — a rapidly growing submarket approximately 45 miles north of Downtown Atlanta along the I-75 corridor. The property consists of 16 residential units (8 one-bedroom/one-bath and 8 two-bedroom/one-bath).
Current in-place rents of $900 (1BR) and $982.50 (2BR) carry 16.7% and 20.4% rent growth potential to market rates of $1,050 and $1,183 respectively. With two vacant units and a dormant on-site laundry facility, the investment thesis is straightforward: a targeted unit upgrade program that systematically brings rents toward market will generate meaningful NOI growth throughout the hold period, while laundry reactivation provides an additional untapped revenue stream with minimal capital outlay.
Current in-place rents of $900 (1BR) and $982.50 (2BR) carry 16.7% and 20.4% rent growth potential to market rates of $1,050 and $1,183 respectively. With two vacant units and a dormant on-site laundry facility, the investment thesis is straightforward: a targeted unit upgrade program that systematically brings rents toward market will generate meaningful NOI growth throughout the hold period, while laundry reactivation provides an additional untapped revenue stream with minimal capital outlay.
Property Facts
| Price | $1,550,000 | Building Class | C |
| Price Per Unit | $96,875 | Lot Size | 1.03 AC |
| Sale Type | Investment | Building Size | 13,608 SF |
| No. Units | 16 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1973 |
| Apartment Style | Low-Rise | Parking Ratio | 1.84/1,000 SF |
| Zoning | C | ||
| Price | $1,550,000 |
| Price Per Unit | $96,875 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.03 AC |
| Building Size | 13,608 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.84/1,000 SF |
| Zoning | C |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Kitchen
- Refrigerator
- Double Pane Windows
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
1 1
Fairly walkable
50/100
Very drivable
80/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | C004-0016-016 | Improvements Assessment | $392,528 |
| Land Assessment | $44,000 | Total Assessment | $436,528 |
Property Taxes
Parcel Number
C004-0016-016
Land Assessment
$44,000
Improvements Assessment
$392,528
Total Assessment
$436,528
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110 Johnson St
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