Virginia-Highland Value-Add Multifamily Multi-Family FOR SALE


Atlanta, GA - Virginia Highland
$8,520,000 USD
404-876-1640
, Atlanta, GA for Sale
$8,520,000 USD
Multi-Family - FOR SALE
1/31
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Virginia-Highland Value-Add Multifamily
Atlanta, GA
Virginia Highland


HIGHLIGHTS

  • This performing multifamily portfolio provides a total of 48 apartment units within Atlanta’s sought-after Virginia-Highland neighborhood.
  • Units are in classic condition, allowing the value-add upside to renovate the units and bring rents to meet the growing submarket average.
  • 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.
  • These communities place tenants within walking distance of popular restaurants, shops, and bars on North Highland Ave and the Ponce City Market.

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

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

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

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