Here are are some basic information of this Atlanta 344 unit
apartments. Asking price is $8mm. Occupancy is 50% as they clean up
property completely. Very few Repairs needed – already invested a great
sum – rough estimate of only $390k for AC, Railings, Carpet, Appliance,
etc. Right now property is breaking even. Property across the street was
sold for $30k per door. Cap Rate & NOI not accurate major renovations were
done over last year, many tenants removed. Now that renovations complete,
focus is an increasing occupancy. Average Rent is $525 with 25-20% Section 8.
Class B- to C+
Class B- to C+ neighborhood
Pitched Shingle Roofs
4 units per bldg. (2 bedrooms & 1 bath 760 sq. ft.)
86 bldgs’s total
Year Built 1951
Renovated 1995-1996 and 2001-2003
Complete FINANCIAL PACKAGE available if interested.