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Woodward Estate Apartments | Value-Add Opportunity | 28 Units

1791 Walker Ave
College Park, GA 30337
PRICE : $2,100,000
PROPERTY TYPE: Senior Housing
SITE SIZE: 1.93 Acres
UNITS: 28
YEAR BUILT: 1964

Highlights

  • 28-unit apartment community in Historic College Park
  • Tremendous value-add opportunity with cosmetic renovations
  • Below-market rents allow for immediate upside potential
  • Units feature 2 & 3-Bedroom/2-Bath layouts
  • Central HVAC
  • Off-street parking
  • 2 of the 28 units have been recently renovated and include quarts countertops, tiled backsplash, stainless steel appliances, new bathrooms, updated flooring, recessed lighting and new HVAC
  • Great location on the border of East Point in College Park with easy access to both city centers
  • Less than 2 miles away from Hartsfield-Jackson Atlanta International Airport

Description

Bull Realty is pleased to present Woodward Estate Apartments – a value-add, 28-unit apartment community located in the Historic Community of College Park, GA near the prestigious Woodward Academy. The property consists of 7 buildings with 4 units in each building. There are (22) 2 bedroom/1.5 bath units, (2) 2 bedroom/2 bath units and (4) 3 bedroom/2 bath units. In the remodeled units the ½ bath was converted to a full bath.

2 units have been renovated & the new features include quartz countertops, tiled backsplash, stainless steel appliance package with dishwasher, walk-in shower, new flooring, recessed lighting and new HVAC. The units are spacious with the 2 bedroom offering 850 SF and the 3 bedroom offering 1,050 SF with an open floor plan. These improvements allowed for an increase in rents from $628 to $1,200. There is plenty of opportunity for a new owner to continue to push rents with cosmetic improvements. The community is less than 1 mile from Woodward Academy, 2 miles north from Hartsfield-Jackson Atlanta International Airport, 2 miles north of the Georgia International Convention Center and 3 miles east from the Porsche Experience.

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