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Virginia-Highland Multifamily Opportunity With Assumable Debt | 12 Units

729 Bonaventure Avenue
Atlanta, GA 30306
PRICE : $2,150,000
CAP RATE: 6%
PROPERTY TYPE: Multifamily
SITE SIZE: 0.09 Acres
UNITS: 12
YEAR BUILT: 1930

Highlights

  • 12-unit vintage apartment building located in Virginia-Highland
  • Walking distance to the BeltLine, popular retail, dining and attractions
  • Recently renovated to include new roof, laundry room and unit upgrades
  • Attractive assumable debt with 4.16% interest rate fixed for 20 years
  • Ideal 1031 exchange

Description

This renovated, vintage, 12-unit apartment building is located in the highly sought after Virginia-Highland neighborhood within walking distance to popular bars and restaurants, Ponce City Market (3 blocks), restored Hotel Clermont (across the street), new 725 Ponce development (2 blocks) and the Atlanta BeltLine (2 blocks).

Recent renovations of the property include new TPO roof (2016), laundry room (2017), granite counters, subway tile back splashes and stainless steel appliances. Units feature hardwood floors, original modernized kitchens and oversized clawfoot bathtubs among many other unique interior features. Value add potential includes upgrade entrances and lighting and converting the three 1 bedroom units into 2 bedroom units as well renovating remaining unrenovated units.

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