2609 Charlestown Dr
Atlanta, GA 30337
Crystal Grove Townhomes · Multifamily Property For Sale
·
220 Units
Investment Highlights
- 1970s ASSET WITH DESIRABLE CONSTRUCTION ELEMENTS
- INTERIOR VALUE ADD OPPORTUNITY
- NOISE INSULATION PROGRAM
- OPPORTUNITY TO STABILIZE AND INCREASE COLLECTIONS
- CONVENIENT ACCESS ALONG MAJOR THOROUGHFARES
- ATLANTA’S HOUSING MARKET MAY BE IN ITS “GOLDILOCKS” STAGE
Property Facts
| No. Units | 220 | Building Size | 320,117 SF |
| Property Type | Multifamily | Average Occupancy | 90% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1970/2024 |
| Building Class | C | Parking Ratio | 2.5/1,000 SF |
| Lot Size | 22.62 AC | ||
| Zoning | MF - Multifamily | ||
| No. Units | 220 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 22.62 AC |
| Building Size | 320,117 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1970/2024 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | MF - Multifamily |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Washer/Dryer Hookup
- Heating
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Range
- Walk-In Closets
- Wheelchair Accessible (Rooms)
Site Amenities
- Business Center
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Playground
- Property Manager on Site
- Security System
- Tennis Court
- Gated
- Grill
- Laundry Service
About 2609 CHARLESTOWN DR , ATLANTA, GA 30337
-The Life at Avery Park is a desirably-sized property consisting of 220 townhome units, which provides economies of scale for operations. -The property is 100% two- and three-bedroom townhomes that average a spacious 1,346 SF. -Attractive architecture with brick and vinyl exteriors, pitched roofs, total electric units, and washer/dryer connections in all floorplans. -Opportunity to steadily burn off loss-to-lease and significantly boost collections by $430,000 per year without considering future upgrades. -23 upgraded units are achieving approximately $150 and $140 premiums for the two- and three-bedroom floorplans, respectively. -Preleased at 94%, occupancy should allow for strong collections. -In the coming months it is expected the NIP (Noise Insulation Program) will renovate the property with insulation, windows, entry doors, and sliding glass doors. A new owner will benefit from this estimated $4,000/unit renovation through future capital needs as well as curb appeal. -Located just off Camp Creek Parkway (48,100 vehicles/day) and 4 minutes away from the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport, which is one of the largest employers in the state (64,000 employees) and is undergoing $330 million renovation. -Three-minute drive to recently announced “Airport City,” a 320-acre site on Camp Creek Parkway consisting of a $700 million redevelopment. -Recent activity has spurred the City of College Park to expand Camp Creek Parkway and upgrade the interchange at I-285. -Rent growth in the South Atlanta submarket of nearly 8%, according to RealPage.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 119 | - | 1,210 |
| 3+2 | 101 | - | 1,510 |
Property Taxes
| Parcel Number | 13-0004-LL-045-5 | Improvements Assessment | $21,610,160 |
| Land Assessment | $1,320,000 | Total Assessment | $22,930,160 |
Property Taxes
