Value-Add Multifamily Opportunity | 125 Units
1800 Memorial Dr SE
Atlanta, GA 30317
FOR SALE
Property Type:
MultiFamily ApartmentsAmount:
$24,375,000
Last Verified:
Jan 30, 2024Highlights
- Well Located Asset: Popular Kirkwood Neighborhood of Atlanta. Walkable to several nearby shops, restaurants and other retail
- High Growth Area: Several new developments in the surrounding area with new homes fetching as high as $1.5M
- Heavy Lifting Complete: Exteriors recently renovated with newer roofs and windows (3-4 years old), exterior paint, awnings and other features. All electric with heat pumps throughout
- Value-Add Potential: 50% of units are renovated, 50% are in classic condition offering value-add rental upside as units turnover. Potential to add 4-5 additional apartments, storage units or amenity space to underutilized basement area
- Attractive Assumable Debt: Fannie Loan at 2.97% interest only - See page 6 for details
- Tenant Amenities: Gated access, open greenspaces including Kirkwood Forest Trails (which is adjacent to the property), fenced dog-run area and in-unit and on-site laundry
Description
Value-Add Multifamily Opportunity with Attractive Assumable Debt | 125 Units
1800 & 1816 Memorial Drive
Year Built: 1962
Building Size: 9720sq ft
Lot Size: 5.3 acres