Azul Door Apartments | 48 Units 969 Forest Ave 48 Unit Apartment Building $4,700,000 ($97,917/Unit) 7% Cap Rate Forest Park, GA 30297

Azul Door Apartments is a fully renovated 48-unit apartment community located at 969 Forest Avenue in Forest Park, Georgia. Originally built in 1965, the property underwent a complete interior and exterior renovation between 2020 and 2021, repositioning it as a modern, low-maintenance asset. The community consists of eight brick buildings situated on approximately 2.27 acres and features a well-balanced unit mix of one, two, and three-bedroom floor plans.
All units have been upgraded with LVT flooring (no carpet), granite countertops, new cabinetry, updated appliances, individual HVAC systems, and modern lighting and plumbing fixtures. Exterior improvements include new pitched roofs (2020), new windows, fresh paint, and fully repaved parking areas completed in 2022. Additional amenities include an on-site laundry facility and leasing office, enhancing both tenant convenience and operational efficiency.
Currently 94% occupied, the property has an average rent of $1,115 and benefits from a utility structure where tenants pay electricity directly, and water is billed back, providing additional income potential. Azul Door Apartments presents a stabilized investment opportunity with strong in-place cash flow and continued upside through rental growth and operational efficiencies.