Virginia-Highland Value-Add Multifamily 3 Multifamily Properties Offered at $8,520,000 in Atlanta, GA
INVESTMENT HIGHLIGHTS
- This performing multifamily portfolio provides a total of 48 apartment units within Atlanta’s sought-after Virginia-Highland neighborhood.
- Currently, units in the portfolio average rents of $1,295/month, while renovated 1br units in the submarket trend around $1,650-1,800/month.
- Units are in classic condition, allowing the value-add upside to renovate the units and bring rents to meet the growing submarket average.
- These communities place tenants within walking distance of popular restaurants, shops, and bars on North Highland Ave and the Ponce City Market.
EXECUTIVE SUMMARY
Seize this rare opportunity to acquire a true value-add multifamily portfolio in the heart of the highly sought after Virginia-Highland Neighborhood of Atlanta with 890-896 and 905 Greenwood Avenue, and 944 & 945 St Charles Avenue. The portfolio totals 48 units, all early 60’s construction, with masonry exteriors and ample parking on professionally landscaped lots.
All the units are in semi-original/classic condition, allowing for significant value-add potential by renovating units and increasing rents. Current rents average only $1,295 per month across the portfolio, while rents for renovated one-bedroom apartments in the submarket range from $1,650-$1,800.
The communities enjoy an A+ location within walking distance of all the popular restaurants, shops and bars on North Highland Avenue, as well as the Eastside Beltline Trail, Ponce City Market, nearby grocery and more. The portfolio also benefits from proximity to Emory University, making it convenient for both students and young professionals alike.
All the units are in semi-original/classic condition, allowing for significant value-add potential by renovating units and increasing rents. Current rents average only $1,295 per month across the portfolio, while rents for renovated one-bedroom apartments in the submarket range from $1,650-$1,800.
The communities enjoy an A+ location within walking distance of all the popular restaurants, shops and bars on North Highland Avenue, as well as the Eastside Beltline Trail, Ponce City Market, nearby grocery and more. The portfolio also benefits from proximity to Emory University, making it convenient for both students and young professionals alike.
PROPERTY FACTS
| Price | $8,520,000 |
| Price / SF | $216.40 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 39,372 SF |
| Total Land Area | 0.91 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Greenwood Apartments
890-896 Greenwood Ave, Atlanta, GA 30306 |
Multifamily | 17,466 SF | 1960 | - |
| 905 Greenwood Ave, Atlanta, GA 30306 | Multifamily | 5,200 SF | 1961 | - |
|
St. Charles Apartments
944 & 954 St Charles Ave, Atlanta, GA 30306 |
Multifamily | 16,706 SF | 1960 | - |
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