969 Forest Ave - Apartments FOR SALE


Forest Park, GA 30297
$4,700,000 USD
404-876-1640
969 Forest Ave, Forest Park, GA for Sale
$4,700,000 USD
Apartments - FOR SALE
1/17
null | 7% Cap Rate

969 Forest Ave
Forest Park, GA 30297


HIGHLIGHTS

  • Fully renovated (2020–2021)
  • Stabilized Asset | 94% Occupancy
  • On-site laundry facility and leasing office
  • Adjacent to the newly built Forest Park Middle School
  • 10 minutes from Hartsfield Jackson Atlanta International Airport
  • Close proximity to nearby restaurants, retail and grocery

OVERVIEW

Azul Door Apartments is a fully renovated 48-unit apartment community located at 969 Forest Avenue in Forest Park, Georgia. Originally built in 1965, the property underwent a complete interior and exterior renovation between 2020 and 2021, repositioning it as a modern, low-maintenance asset. The community consists of eight brick buildings situated on approximately 2.27 acres and features a well-balanced unit mix of one, two, and three-bedroom floor plans. All units have been upgraded with LVT flooring (no carpet), granite countertops, new cabinetry, updated appliances, individual HVAC systems, and modern lighting and plumbing fixtures. Exterior improvements include new pitched roofs (2020), new windows, fresh paint, and fully repaved parking areas completed in 2022. Additional amenities include an on-site laundry facility and leasing office, enhancing both tenant convenience and operational efficiency. Currently 94% occupied, the property has an average rent of $1,115 and benefits from a utility structure where tenants pay electricity directly, and water is billed back, providing additional income potential. Azul Door Apartments presents a stabilized investment opportunity with strong in-place cash flow and continued upside through rental growth and operational efficiencies.

FOR SALE DETAILS

PRICE

$4,700,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

48

PRICE/UNIT

$97,917

CAP RATE

7%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Azul Door Apartments | 48 Units

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

60

LAND DETAILS

LAND ACRES

2.27 AC

LAND SF

98,881 SF

ZONING

RM, Clayton County

APN/PARCEL ID

13-0049A-00A-009

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.