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Recently Renovated Multifamily Opportunity 1931 Joseph E Boone Blvd NW 40 Unit Apartment Building $4,600,000 ($115,000/Unit) 7% Cap Rate Atlanta, GA 30314
Investment Highlights
- 40-unit multifamily community
- Built in 1965 | Renovated in 2023
- On-site laundry room
- 1BR/1BA apartments
- Central air conditioning throughout
- Separately metered electric service
Executive Summary
Rare opportunity to acquire a recently renovated 40-unit multifamily community in Atlanta’s rapidly transforming Westside submarket. Situated
on approximately 1.02 acres, the property consists of 2 two-story buildings totaling ±14,352 SF, featuring 40-1BR/1BA units. Originally constructed in 1965 and extensively renovated in 2023, the asset offers investors a stabilized value-add opportunity in a corridor benefiting from continued redevelopment and strong rental demand.
The property is all electric (no gas) with central air conditioning, on-site laundry facility, and separately metered electric service, providing operational efficiencies and minimizing landlord utility expenses. Located along Joseph E. Boone Boulevard, one of Atlanta’s major Westside corridors, the property offers convenient access to I-20 and I-285 with convenient access to located near Downtown Atlanta, the Atlanta University Center, MARTA, Mercedes-Benz Stadium, and numerous employment centers and neighborhood amenities.
on approximately 1.02 acres, the property consists of 2 two-story buildings totaling ±14,352 SF, featuring 40-1BR/1BA units. Originally constructed in 1965 and extensively renovated in 2023, the asset offers investors a stabilized value-add opportunity in a corridor benefiting from continued redevelopment and strong rental demand.
The property is all electric (no gas) with central air conditioning, on-site laundry facility, and separately metered electric service, providing operational efficiencies and minimizing landlord utility expenses. Located along Joseph E. Boone Boulevard, one of Atlanta’s major Westside corridors, the property offers convenient access to I-20 and I-285 with convenient access to located near Downtown Atlanta, the Atlanta University Center, MARTA, Mercedes-Benz Stadium, and numerous employment centers and neighborhood amenities.
Property Facts
| Price | $4,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $115,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.02 AC |
| Cap Rate | 7% | Building Size | 14,352 SF |
| No. Units | 40 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2023 |
| Property Subtype | Apartment | ||
| Zoning | RG3 | ||
| Price | $4,600,000 |
| Price Per Unit | $115,000 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.02 AC |
| Building Size | 14,352 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2023 |
| Zoning | RG3 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 40 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $57,680 | |
| Land Assessment | $147,200 | Total Assessment | $204,880 |
Property Taxes
Parcel Numbers
Land Assessment
$147,200
Improvements Assessment
$57,680
Total Assessment
$204,880
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