3627 Forrest Park Rd SE - Apartments FOR SALE


Atlanta, GA 30354- South River Gardens
$2,350,000 USD
404-876-1640
3627 Forrest Park Rd SE, Atlanta, GA for Sale
$2,350,000 USD
Apartments - FOR SALE
1/27
null | Request Cap Rate

3627 Forrest Park Rd SE
Atlanta, GA 30354
South River Gardens


HIGHLIGHTS

  • Over $525,000 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

OVERVIEW

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 $525,000 since purchasing. Tremendous value-add opportunity for a new owner to complete interior renovations and realize an above market return once the property is fully stabilized.

FOR SALE DETAILS

PRICE

$2,350,000 USD

PRICE/SF

$64 USD /SF

# OF UNITS

25

PRICE/UNIT

$94,000

CAP RATE

Request Cap Rate

% LEASED

50%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

25-Unit Value-Add Multifamily Opportunity

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Hi-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1973

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.01 AC

LAND SF

87,556 SF

ZONING

R4

APN/PARCEL ID

14-0001-LL-022-5

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 Notice.