3073 Washington Rd | East Point, GA 30344
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- LoopNet Team
3073 Washington Rd
East Point, GA 30344
Reserve at Maple Ridge · Multifamily Property For Sale
·
263 Units
INVESTMENT HIGHLIGHTS
- Lexington Apartments is a 1965-1971-built asset featuring 264 one-, two-, three-, and four-bedroom floorplans averaging 1,104 square feet.
- The average in-place rent of $922 can be increased to over $1,260 by upgrading the 227 remaining classic units.
- Located in one of the largest & most active industrial submarkets in the country (Airport/N. Clayton) with net absorption avg 5MM SF over the past 3yr
- Amenities include a clubhouse, fitness center, business center, swimming pool, and an outdoor grilling area.
- The South Atlanta submarket has performed well in recent years. According to CoStar, market rent increased to over 8% YOY in Q1 2022.
- ocated 3 miles NE of Duke Realty’s Industrial Bus. Park – home to logistics/distribution hubs for: Amazon, Home Depot, FedEx, Clorox, Porsch, ADT
PROPERTY FACTS
| No. Units | 263 | Building Size | 306,856 SF |
| Property Type | Multifamily | Average Occupancy | 63% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built/Renovated | 1965/2000 |
| Building Class | C | Parking Ratio | 1.63/1,000 SF |
| Lot Size | 14.61 AC | ||
| Zoning | C1 - 2C1 - Apt Garden Class C | ||
| No. Units | 263 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 14.61 AC |
| Building Size | 306,856 SF |
| Average Occupancy | 63% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2000 |
| Parking Ratio | 1.63/1,000 SF |
| Zoning | C1 - 2C1 - Apt Garden Class C |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Fireplace
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Sunroom
- Carpet
- Wi-Fi
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Business Center
- Clubhouse
- Courtyard
- Fitness Center
- Laundry Facilities
- Playground
- Pool
- Property Manager on Site
- Pet Play Area
- Maintenance on site
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | 542 |
| 2+1 | 65 | - | 775 |
| 2+2 | 94 | - | 843 - 1,250 |
| 3+2 | 83 | - | 1,150 - 1,600 |
| 3+3 | 1 | - | 2,200 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,652,600 | |
| Land Assessment | $1,603,000 | Total Assessment | $3,255,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,603,000
Improvements Assessment
$1,652,600
Total Assessment
$3,255,600
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