1200 Mobile St NW - Apartments FOR SALE


Atlanta, GA 30314
$4,500,000 USD
404-876-1640
1200 Mobile St NW, Atlanta, GA for Sale
$4,500,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

1200 Mobile St NW
Atlanta, GA 30314


HIGHLIGHTS

  • 40 highly-efficient affordable multifamily units located in Atlanta’s Westside. Conveniently located just minutes from Downtown Atlanta.
  • Recently gut renovated (2021-22) throughout with all new electrical, plumbing, mechanicals, roofs, windows, doors, interiors, etc.
  • Fully-furnished units with murphy beds, fully equipped kitchenettes and washer-dryer combo in all units. All units feature shared exterior balconies.
  • Nearby amenities include the future Westside BeltLine Trail (1 block away) and future greenspace/park across the street.
  • Property has off-street parking with gated/secured access. Walking distance to Ashby MARTA rail station with easy access to MARTA bus service.
  • Sale subject to a non-governmental Land Use Restrictive Agreement (LURA). See page 5 for more details.

OVERVIEW

Bull Realty is pleased to present this opportunity to purchase this newly renovated, award winning affordable multifamily property in Atlanta’s popular up and coming Westside, also known as 12 Hundred Studios. What started as a tired, blighted 20-unit apartment building has transformed into 40 highly-efficient, fully furnished affordable apartments for the local community, thus drastically improving the neighborhood and immediate area. So much so that they were awarded the Atlanta Regional Commission Regional Excellence Award in 2023 for “Innovative Development” and the Costar Community Impact Award for “Best New Multifamily Development in Atlanta”. For more information on both of these awards and the ribbon cutting ceremony with the Atlanta Mayor, please refer to page 14 of this offering. These fully-furnished luxurious studios feature state-of-the-art appliances, designer furnishings, in-unit laundry and European style bathrooms, along with shared balconies/patios for all units. The exterior of the property also went through a major transformation with vibrant new murals painted by local well-known muralists and improved security with gated access throughout. Not only is the property located just steps from the future Westside BeltLine Trail and across the street from future planned greenspace, but also offers quick and easy access to MARTA and downtown Atlanta within minutes.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$308 USD /SF

# OF UNITS

40

PRICE/UNIT

$112,500

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Award Winning Affordable Multifamily

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.66 AC

LAND SF

28,763 SF

ZONING

RG2, BeltLine Overlay

APN/PARCEL ID

14-0115-0002-052-2

ASK ABOUT THIS PROPERTY

Andy LundsbergBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Andy LundsbergBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.