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Value-Add Opportunity | 41 Units 1514 Northwest Dr NW 41 Unit Apartment Building $4,300,000 ($104,878/Unit) 7% Cap Rate Atlanta, GA 30318
INVESTMENT HIGHLIGHTS
- All spacious 2-story, 2 bedroom / 1.5 bath townhouse style units with exception of one 3-bedroom flat
- Attractive Assumable Debt at 62% LTV, 3.49% interest fixed until 1/1/2029. Call agent for more details
- Ample off-street surface parking | Common area greenspace for use by all tenants
- All 2-bedroom units have large eat-in kitchens with private rear patios
- All electric units with central HVAC | Onsite laundry room | Onsite workshop / maintenance area for staff
- Gentrifying area of town inside I-285 with several new developments nearby
EXECUTIVE SUMMARY
This 41-unit value-add multifamily on the bustling westside, is awaiting your cosmetic improvements to raise rents and create instant equity. All of the units are in average condition allowing for significant upside as units turnover, implementing a light value-add strategy.
Most all of the units are spacious townhouse style floorplans making them great for those wanting separation between tenants above in a typical flat style apartment building. In addition, these feel like homes with up front parking and walk-up entrances with private rear patios. With Marta nearby and easy access to I-285, one can get to nearby attractions like Truist Park, Cumberland Mall, Atlanta Int’l Airport and downtown Atlanta within minutes.
For financials, please complete the online confidentiality agreement found here: https://www.bullrealty.com/properties/sale/1522708?propertyId=1522708-sale
Most all of the units are spacious townhouse style floorplans making them great for those wanting separation between tenants above in a typical flat style apartment building. In addition, these feel like homes with up front parking and walk-up entrances with private rear patios. With Marta nearby and easy access to I-285, one can get to nearby attractions like Truist Park, Cumberland Mall, Atlanta Int’l Airport and downtown Atlanta within minutes.
For financials, please complete the online confidentiality agreement found here: https://www.bullrealty.com/properties/sale/1522708?propertyId=1522708-sale
PROPERTY FACTS
| Price | $4,300,000 | Apartment Style | Garden |
| Price Per Unit | $104,878 | Building Class | C |
| Sale Type | Investment | Lot Size | 2.47 AC |
| Cap Rate | 7% | Building Size | 46,228 SF |
| No. Units | 41 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1971 |
| Zoning | RG-3 | ||
| Price | $4,300,000 |
| Price Per Unit | $104,878 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 41 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.47 AC |
| Building Size | 46,228 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1971 |
| Zoning | RG-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1.5 | 40 | - | 1,100 |
| 3+1 | 1 | - | 1,240 |
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PROPERTY TAXES
| Parcel Number | 17-0261-LL-060-3 | Improvements Assessment | $1,796,000 |
| Land Assessment | $164,000 | Total Assessment | $1,960,000 |
PROPERTY TAXES
Parcel Number
17-0261-LL-060-3
Land Assessment
$164,000
Improvements Assessment
$1,796,000
Total Assessment
$1,960,000
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Value-Add Opportunity | 41 Units | 1514 Northwest Dr NW
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