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Summerhill Value-Add Multifamily Opportunity Infill Atlanta | 31 Units

8 Vanira Avenue
Atlanta, GA 30315
PRICE : $2,450,000
CAP RATE: 7%
PROPERTY TYPE: Multifamily
SITE SIZE: 1.09 Acres
UNITS: 31

Highlights

  • 31 unit apartment complex in popular Summerhill neighborhood
  • Offered at an estimated 7% cap rate
  • Located a few blocks from Georgia State Stadium and minutes from Downtown Atlanta and the Atlanta BeltLine
  • 100% occupied (Currently 28 units are on an annual contract with U.S. Department of Housing and Urban Development (HUD). 2 units are at market rent and 1 unit is being used as an office.)
  • All brick construction with central HVAC throughout
  • Great potential future redevelopment site with unobstructed views of city skyline
  • Huge upside potential through renovation and increased rents
  • All units separately metered for electric and gas and submetered for water

Description

This fully occupied 31 unit apartment complex located in popular Summerhill neighborhood is an ideal opportunity for an investor looking to invest in an up-and-coming part of Atlanta.

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