2099 Martin Luther King Dr - Apartments FOR SALE


Atlanta, GA 30310- Westview
$2,232,000 USD
404-876-1640
2099 Martin Luther King Dr, Atlanta, GA for Sale
$2,232,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

2099 Martin Luther King Dr
Atlanta, GA 30310
Westview


OVERVIEW

True-value add opportunity in the West End area of Atlanta. Located directly across from the historic Westview Cemetery with Marta bus access in front of the property. The current owner has not made any efforts to raise rents or lease units in anticipation of a sale. All rents are significantly below market with an avg. in place rent of only $850/unit. Hence this is not an cap rate sale as the property is currently only 60% occupied. Being sold as is, as a value-add opportunity, not based on current income. All units are 2 bed/ 1 bath floorplans in classic condition with a few select units upgraded to accommodate Airbnb use. All units have central HVAC with in-unit laundry connections. The property is separately metered for electric and gas. Water is common. Easy access to I-20, downtown Atlanta and the popular West End Neighborhood

FOR SALE DETAILS

PRICE

$2,232,000 USD

PRICE/SF

$148 USD /SF

# OF UNITS

24

PRICE/UNIT

$93,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Kings Court Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1954

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.65 AC

LAND SF

28,314 SF

ZONING

C1

APN/PARCEL ID

14-0173-0007-044-3

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.