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Monterey Townhomes 7234 Tara Blvd 49 Unit Apartment Building For Sale Jonesboro, GA 30236
Investment Highlights
- ?Compelling Sub-$6M Price Point Creates Exceptional Entry Basis
- ?Demonstrated Rent Upside with Minimal Execution Risk
- ?Rare Townhome Product with Built-In Rent Premium and Limited New Supply
- ?Hartsfield-Jackson Proximity and Clayton County’s Structural Employment Base
Executive Summary
Marcus & Millichap is pleased to exclusively present for sale Monterey Townhomes, a 49-unit townhome community situated on 4.6 acres at 7234 Tara Boulevard in Jonesboro, Georgia.? Built in 1972 and partially renovated in 2020, the property comprises six two-story residential buildings totaling 56,203 rentable square feet.? Every unit is a two-bedroom, one-and-a-half-bath townhome averaging 1,147 square feet — a product type that consistently captures a rent premium over garden-style alternatives and is increasingly difficult to replicate at today’s construction costs.?
The property is offered at a target price of $5,999,999 — a deliberately sub-$6,000,000 price point that broadens the buyer universe and delivers one of the most compelling going-in cap rates in the South Atlanta multifamily market.? The offering is further distinguished by an assumable first mortgage of $4,600,000 at a fixed rate of 6.50%, which, combined with the reduced purchase price, translates to an estimated equity requirement of approximately $1,680,000 — an exceptionally accessible check size for a 49-unit institutional-quality townhome asset.?
The property is offered at a target price of $5,999,999 — a deliberately sub-$6,000,000 price point that broadens the buyer universe and delivers one of the most compelling going-in cap rates in the South Atlanta multifamily market.? The offering is further distinguished by an assumable first mortgage of $4,600,000 at a fixed rate of 6.50%, which, combined with the reduced purchase price, translates to an estimated equity requirement of approximately $1,680,000 — an exceptionally accessible check size for a 49-unit institutional-quality townhome asset.?
Property Facts
| Sale Type | Investment | Lot Size | 4.60 AC |
| No. Units | 49 | Building Size | 58,682 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Townhome | Year Built/Renovated | 1972/2020 |
| Building Class | C | Parking Ratio | 1.23/1,000 SF |
| Zoning | MX | ||
| Sale Type | Investment |
| No. Units | 49 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 4.60 AC |
| Building Size | 58,682 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built/Renovated | 1972/2020 |
| Parking Ratio | 1.23/1,000 SF |
| Zoning | MX |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Microwave
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Family Room
- Patio
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 49 | - | 1,150 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 13-0178A-00C-001 | Improvements Assessment | $1,422,360 |
| Land Assessment | $202,400 | Total Assessment | $1,624,760 |
Property Taxes
Parcel Number
13-0178A-00C-001
Land Assessment
$202,400
Improvements Assessment
$1,422,360
Total Assessment
$1,624,760
Contacts
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Marco Welch -
Scott Spalding -
Joe Mitchell -
Harold Shepard -
Metropolitan Multifamily & Investments
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