25-Unit Value-Add Multifamily Opportunity | 3 Buildings
3627 Forrest Park Road Southeast
Atlanta, GA 30354
Highlights
- Over $1,925,000 in recent capital improvements
- Quiet, clean private community surrounded by single family residences
- Spacious units with large kitchens and plenty of closet/storage space
- Onsite laundry
- Close proximity to Lake Charlotte Nature Preserve
- Easy quick access to nearby retail, I-285 and Atlanta International Airport
Description
Located in Southeast Atlanta, just minutes from nearby retail, I-285 and Atlanta International Airport, this 25-unit apartment complex is surrounded by single family residences in a beautiful, wooded setting in close proximity to Lake Charlotte Nature Preserve. Majority of units are spacious 2-bedroom units with large eat-in kitchens and plenty of closet/storage space. The property has an onsite community laundry facility and additional land in the rear of the property is that is not being utilized. All units are all electric (no gas) and have central HVAC with separate water heaters. The owner has been slowly renovating units as they become available and has completed several capital infrastructure improvements with a total cost of over $1,925,000 since purchasing, including all new exterior doors, windows, insulation, steel staircases & railings, concrete walkways, paving and some HVAC (as needed). Tremendous value-add opportunity for a new owner to complete interior renovations and realize an above market return once the property is fully stabilized. The property is currently at ~60% occupancy and not stabilized. Being sold as a value-add opportunity. See proforma on page 7 for more details.
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