Bank-Owned | 80-Unit Value-Add Multifamily 2600 Old Hapeville Rd SW 80 Unit Apartment Building $4,200,000 ($52,500/Unit) Atlanta, GA 30315

Rare opportunity to acquire an 80-unit apartment complex at a steep discount inside I-285 in Atlanta. The property is currently in need of renovation with only 25% of the units online (only 5 units currently occupied). The other 75% of the units have differing degrees of damage and deferred maintenance including some fire damage (affecting 4 units), past water damage and vandalism. In addition, one building is gutted to the studs and needs some significant repairs. The property last sold for $10,000,000 in December of 2022 as a stabilized asset proving significant value-add potential with the right vision and execution.

Highlights:
• Spacious units with separate dining areas and ample closet space
• Potential to convert all of the 2 bed / 1 bath units into 2 bedroom / 2 bath units with open kitchen-to-living-room floorplans
• All units have private balconies off the living rooms
• Onsite leasing office (80th unit)
• Gated property with large greenspace/courtyard between the buildings and mature trees
• Underutilized basement space in one of the buildings that could be converted to onsite laundry
• Plenty of excess land to add a playground and/or other amenities
• Potential redevelopment opportunity in the future with 6+ acres of land inside I-285 in a gentrifying neighborhood of Atlanta
• Adjacent to Cleveland Avenue Elementary School
• Easy, quick access to I-85 and I-75, downtown Atlanta, and Atlanta International Airport