• Broker Andy Lundsberg 4048761640 x 107
  • Broker Michael Wess, CCIM 7705986212

Virginia-Highland Value-Add Multifamily 3 Multifamily Properties Offered at $8,520,000 in Atlanta, GA

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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.

ATTACHMENTS

Offering Memorandum

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
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 -
Greenwood Apartments
890-896 Greenwood Ave, Atlanta, GA 30306 		Multifamily 17,466 SF 1960 -
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LINKS

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ADDITIONAL PHOTOS

View Photo 48 Total Apartment Units
View Photo Classic Bathrooms
View Photo Close Proximity Portfolio
View Photo Masonry Exteriors
View Photo Professional Landscaping
View Photo 905 Greenwood Avenue
View Photo 905 Greenwood Avenue Bird's Eye View
View Photo Spacious Units
View Photo Great Natural Lighting
View Photo Near Quality Amenities
View Photo Highly Visible Location
View Photo Ample Parking
View Photo Turnkey Multifamily Investment
View Photo Well-Maintained Communities
View Photo Unique Points of Entry
View Photo 890-896 Greenwood Avenue
View Photo Large Residential Units
View Photo Full Kitchens
View Photo Near National Retail Amenities
View Photo Virginia Highlands 890 and 896 Greenwood Avenue
View Photo Value-Add Multifamily Investment
View Photo Central Courtyard
View Photo Building Photo
View Photo 944 2 atlabnta beltiline
View Photo 944 Virginia Highlands Aerial2 THIS ONE
View Photo Masonry Exterior
View Photo Photo-73
View Photo Bedrooms with Ceiling Fans
View Photo Spacious Bedrooms
View Photo Built-In Cabinetry

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