208 SW Doane Street is the ultimate value-add investment in Atlanta. The 10-unit multifamily property is comprised of two-bedroom two-bathroom units. The property features a simple brick façade with stairs and exterior entry to the units. Renovated in 2017 and 2018 there is capital improvement potential. Buyers are presented an opportunity to implement renovations and add amenities to enhance tenant satisfaction and increase property value. Currently, the property is 90% occupied providing a consistent cash flow. By adding additional value to this asset, there is potential for both rental income growth and property appreciation over time.
This multifamily offering is in a high demand area. Located just 5 minutes from Georgia State University and steps away from Summerhill and Downtown Atlanta. Thia area has high rental demand, driven by nearby educational institutions, businesses, and amenities. There is strong connectivity with quick and easy access to I-85, providing direct routes to Downtown Atlanta and surrounding areas, ideal for commuting residents. Atlanta is the capital of and the most populous city in the U.S. state of Georgia, the cultural and economic center of the Atlanta metropolitan area, and the ninth-largest metropolitan area in the United States. Atlanta has a diversified economy with healthy concentrations in transportation/logistics, media, information technology, entertainment, tourism, financial services, government, and education and healthcare. Atlanta is home to 30 headquarters of Fortune 500/1000 companies. Atlanta is an “alpha-” or “world city”, exerting a significant impact upon commerce, finance, research, technology, education, media, art, and entertainment. It ranks36th among world cities and 8th in the nation with a gross domestic product of $270 billion. Atlanta’s economy is considered diverse, with dominant sectors including logistics, professional and business services, media operations, and information technology. Atlanta is home to professional franchises for three major team sports: the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the National Basketball Association, and the Atlanta Falcons of the National Football League. Due to the more than 30 colleges and universities located in the city, Atlanta is considered a center for higher education.
208 SW Doane Street benefits from being in the South Atlanta Multi-Family Submarket. The South Atlanta Submarket's apartment landscape continues to change rapidly, particularly in the areas closest to downtown. Georgia State University, Carter, and other developers are reshaping the Summerhill neighborhood. The university opened a new convocation center in the area, and developers have added a mix of townhomes, market-rate multifamily, office, and retail. Development is ramping up along the BeltLine, and investors continue to eye BeltLine-adjacent sites throughout the submarket as the multiuse trail is built. One of the submarket's largest demand drivers is Hartsfield-Jackson Airport. South Atlanta offers easy access and affordable rents for the legions of service workers who are employed at the airport.