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Calhoun Multifamily Opportunity | Belwood Apartments | 46 Units

212 Old Belwood Road
Calhoun, GA 30701
PRICE : $3,085,000
CAP RATE: 8.2%
PROPERTY TYPE: Multifamily
SITE SIZE: 2.00 Acres
UNITS: 46
YEAR BUILT: 1985

Highlights

  • 46 - unit multifamily community - 96% occupied
  • All 1 bed/ 1 bath units - low vacancy rates in sub-market - 4%
  • Average cap rate in Georgia for Class B multifamily for last year is 5.8%
  • Workforce housing in walking & bicycling proximity of 9,000 jobs
  • Upside potential with inexpensive cosmetic upgrades as well as remodeling
  • Income producing laundry facility
  • Conveniently located 2 miles from I-75 - the nation's busiest interstate
  • Booming industrial area - 2.6% unemployment, 4.8% annual increase in jobs
  • Pro business community with local and state tax incentives
  • Close proximity to Calhoun Outlet Marketplace and other retail

Description

Opportunity to acquire an architectural gem - 46 unit workforce, Class B apartment community located in the midst of a booming manufacturing, distribution and transportation district, offering 8.2% cap rate plus upside.

This value-add opportunity presents strong upside potential to increase rents via inexpensive cosmetic work and even more upside with remodeling.

* Average cap rates of sales comps is 5.6%
* Located within 3 miles of 9,000 workforce jobs
* Strong market for one bedroom units - 4% average vacancy in sub-market

ARRANGE ALL PROPERTY VISITS WITH BULL REALTY
DO NOT DISTURB THE TENANTS

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