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t r a n s l a t e

Jasmine Gardens Apartments | Value-Add Opportunity | 40 Units

7830 N McDonough St.
Jonesboro, GA 30236
PRICE : $2,900,000
PROPERTY TYPE: Multifamily
SITE SIZE: 3.41 Acres
UNITS: 40
YEAR BUILT: 1969

Highlights

  • Great value-add opportunity with cosmetic renovations
  • 20 of the 40 units were recently renovated in 2019 and 2020
  • Below-market rents allow for upside potential
  • Strong 100% Occupancy
  • Off-street parking for all units
  • All units are 2-BR/1-BA, totally electric, central HVAC and have dishwashers
  • Amenities include laundry facility, playground and ample green space
  • Easy access to Tara Boulevard and I-75
  • Less than 11 miles away from Hartsfield-Jackson Atlanta International Airport

Description

Bull Realty is pleased to present Jasmine Gardens Apartments, a value-add, 40-unit apartment community, located in the Atlanta submarket, Jonesboro. The community is easily accessible to Tara Boulevard and I-75 and the property consists of 4, 10-unit buildings, two of which were recently renovated in 2019 and 2020. Each of the spacious, 925 SF units have central HVAC, dishwashers and off-street parking. The complex also features an on-site laundry facility, playground and abundant green space that provides a relaxing environment.

Jonesboro is located in Clayton County, where rental rates continue to increase, with the county experiencing a 4.3% growth since March 2020, and a year-over-year rent growth of 7.4%. The average rent at Jasmine Gardens is below market rent at $728, and current market trends will allow room to increase units, as well as an upside potential with cosmetic renovations. Please refer to the rent survey on page 20 for additional information.

Conveniently located ±3 miles from Southlake Mall and Southern Regional Medical Center and ± 2 miles from a Planet Fitness, Kroger and Best Buy, the complex is also less than 11 miles from Hartsfield-Jackson Atlanta International Airport.

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