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641 Powder Springs St SE 10 Unit Apartment Building $1,500,000 ($150,000/Unit) Smyrna, GA 30080
Executive Summary
Rare opportunity to purchase a true value-add multifamily deal in the popular north-metro Atlanta suburb
of Smyrna. The property is currently approximately 60% occupied and is not stabilized and is being offered
as a value-add opportunity with significant upside potential through lease-up and operational
improvements. Please refer to the pro forma on page six for projected stabilized performance.
The complex consists of 14 spacious 1-bedroom/1-bath units, all with large eat-in kitchens. The majority of
the current rents are well below market, allowing for significant upside for a new owner through lease-up
and cosmetic interior improvements. All units feature central HVAC and separate water heaters. The
property also offers ample off-street parking, a coin laundry room on-site, and a large basement area for
storage. Located just off S. Cobb Drive, the property sits approximately half a mile from Campbell HS and provides
easy access to Downtown Smyrna, Truist Park/The Battery Atlanta, and I-285 and I-75.
of Smyrna. The property is currently approximately 60% occupied and is not stabilized and is being offered
as a value-add opportunity with significant upside potential through lease-up and operational
improvements. Please refer to the pro forma on page six for projected stabilized performance.
The complex consists of 14 spacious 1-bedroom/1-bath units, all with large eat-in kitchens. The majority of
the current rents are well below market, allowing for significant upside for a new owner through lease-up
and cosmetic interior improvements. All units feature central HVAC and separate water heaters. The
property also offers ample off-street parking, a coin laundry room on-site, and a large basement area for
storage. Located just off S. Cobb Drive, the property sits approximately half a mile from Campbell HS and provides
easy access to Downtown Smyrna, Truist Park/The Battery Atlanta, and I-285 and I-75.
Property Facts
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.70 AC |
| Sale Type | Investment | Building Size | 10,556 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | Parking Ratio | 1.33/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | RM12 | ||
| Price | $1,500,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.70 AC |
| Building Size | 10,556 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 1.33/1,000 SF |
| Zoning | RM12 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | - |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 17-0376-0-055-0 | Improvements Assessment | $222,936 |
| Land Assessment | $116,664 | Total Assessment | $339,600 |
Property Taxes
Parcel Number
17-0376-0-055-0
Land Assessment
$116,664
Improvements Assessment
$222,936
Total Assessment
$339,600
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641 Powder Springs St SE
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