Value-Add Multifamily Near West BeltLine 1247 Joseph E. Boone Blvd 64 Unit Apartment Building $6,400,000 ($100,000/Unit) Atlanta, GA 30314
EXECUTIVE SUMMARY
PROPERTY OVERVIEW
• 64-Unit Value-Add Multifamily in Westside Atlanta
• Mix of 1 bed, 2 bed and 3 bed units
• Within walking distance to future Westside BeltLine Trail
• Located in a qualified opportunity zone- see page 14 for more details
• Partially renovated with several recent updates throughout
• All units have central HVAC
• Gated with large internal grassed courtyard area
• Playground in rear with large community garden and covered pavilion
• MARTA bus line accessible
• Easy access to downtown Atlanta
RECENT IMPROVEMENTS (RENOVATIONS)
• 51/64 units have been converted to all electric with updated breaker boxes
• 38/64 units have washer/dryer connections
• 19 out of the 38 units above have dishwashers
• Several units have been upgraded to instant hot water heaters
• Replaced windows and exterior doors
• Some electric meters on specific buildings were replaced
• Interior cosmetic renovations as needed (LED lighting, cabinets, flooring, paint, sinks, tubs, toilets, plumbing, appliances, etc.)- roughly 54 units
• 64-Unit Value-Add Multifamily in Westside Atlanta
• Mix of 1 bed, 2 bed and 3 bed units
• Within walking distance to future Westside BeltLine Trail
• Located in a qualified opportunity zone- see page 14 for more details
• Partially renovated with several recent updates throughout
• All units have central HVAC
• Gated with large internal grassed courtyard area
• Playground in rear with large community garden and covered pavilion
• MARTA bus line accessible
• Easy access to downtown Atlanta
RECENT IMPROVEMENTS (RENOVATIONS)
• 51/64 units have been converted to all electric with updated breaker boxes
• 38/64 units have washer/dryer connections
• 19 out of the 38 units above have dishwashers
• Several units have been upgraded to instant hot water heaters
• Replaced windows and exterior doors
• Some electric meters on specific buildings were replaced
• Interior cosmetic renovations as needed (LED lighting, cabinets, flooring, paint, sinks, tubs, toilets, plumbing, appliances, etc.)- roughly 54 units
PROPERTY FACTS
| Price | $6,400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 3.74 AC |
| Building Size | 22,529 SF |
| Average Occupancy | 72% |
| No. Stories | 2 |
| Year Built/Renovated | 1980/2008 |
| Opportunity Zone |
Yes |
| Zoning | RG3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Picnic Area
- Playground
- Tenant Controlled HVAC
- Walking/Biking Trails
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 15 | - | 536 |
| 2+1 | 46 | - | 600 |
| 3+1 | 3 | - | 900 |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,289,560 | |
| Land Assessment | $361,360 | Total Assessment | $1,650,920 |
