20 Griffin St - Apartments FOR SALE


Atlanta, GA 30314- Vine City
$2,500,000 USD
404-635-6426
20 Griffin St, Atlanta, GA for Sale
$2,500,000 USD
Apartments - FOR SALE
1/3
null | 6.39% Cap Rate

20 Griffin St
Atlanta, GA 30314
Vine City


HIGHLIGHTS

  • Prime Urban Infill Location: Situated in Atlanta's burgeoning Westside, benefiting from exceptional connectivity and accessibility to major employment
  • Significant Value-Add Potential: Opportunity to implement strategic renovations and optimize rental rates to align with prevailing market dynamics.
  • Strong Rental Fundamentals: The 30314 ZIP code exhibits robust rental demand, driven by proximity to downtown Atlanta and key institutional anchors.

OVERVIEW

Adrian Provost of the Commercial Collective, powered by Realty ONE Group Terminus, presents an exclusive opportunity to acquire 20 Griffin Street NW, a 13-unit multifamily asset strategically positioned within Atlanta's dynamic Westside submarket. This property offers institutional investors a compelling value-add proposition, capitalizing on the city's robust economic expansion and escalating rental demand. Comprising thirteen two-bedroom, one-bathroom units, the asset presents a substantial opportunity for strategic capital improvements and rental optimization. The location benefits from proximity to key economic drivers, significant landmarks, and transformative future developments, ensuring sustained long-term appreciation. Proximity to Economic Generators: - Mercedes-Benz Stadium: A major regional draw, driving consistent economic activity. - Georgia World Congress Center: A key convention and event venue, generating substantial visitor traffic. - Atlanta University Center Consortium: A stable source of tenant demand, providing a consistent rental pool. Strategic Access to Landmark Destinations: - Centennial Olympic Park: A central urban amenity, enhancing resident quality of life. - Ponce City Market: A premier mixed-use destination, attracting affluent demographics. Future Development Catalysts: - Westside Park: A transformative greenspace initiative, poised to significantly enhance property values. - Centennial Yards Development: A multi-billion-dollar mixed-use project, driving further revitalization and appreciation. Strong Transit Accessibility: Good Transit score and respectable walk score, adding to the desirability of the location. Substantial Building Footprint: Over 10,000 square feet of rentable area, offering scale and flexibility. Demonstrated Rental Potential: Current rent roll indicates significant upside for optimized rental income.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$240 USD /SF

# OF UNITS

13

PRICE/UNIT

$192,308

CAP RATE

6.39%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Griffin Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

SPI

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Adrian ProvostRealty ONE Group TerminusMore Info
404-635-6426

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Adrian ProvostRealty ONE Group TerminusMore Info
404-635-6426

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