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84 Unit Multifamily Opportunity | Heritage Pines | Recently Renovated | Atlanta, GA

1350 Mayson Turner
Atlanta, GA 30314
PRICE : Contact Bull Realty for information
PROPERTY TYPE: Multifamily
UNITS: 84
YEAR BUILT: 1963

Highlights

  • 84-unit multifamily complex located in Atlanta, GA
  • Three floor plans that include: (12) 1 Bed/1 Bath, (60) 2 Bed/1 Bath and (12) 3 Bed/1 Bath
  • Recently renovated (See below for details)
  • Value-add opportunity
  • Located in a gated community
  • On-site parking for all units
  • All units are electric
  • Located in Fulton County
  • Located less than a mile from the Bellwood Quarry, which Microsoft is developing a 90 acre campus
  • Located just 3 miles south of West Midtown
  • Located 4 miles north from Downtown Atlanta and 12 miles north from Hartsfield-Jackson Atlanta International Airport

Description

Bull Realty is pleased to present this in-town gated community of 84 completely renovated units. The property is located in the Grove Park neighborhood of Atlanta, GA. The complex consists of three spacious floor plans: (12) 1 bedroom/1 bathroom, (60) 2 bedroom/1 bathroom and (12) 3 bedroom/1 bathroom units. The property has undergone an extensive renovation featuring all new roofs, fully updated electrical, new plumbing, new HVAC systems, new kitchens and new bathrooms. The property is energy efficient rated making the units eligible for top tier section 8 rent vouchers. There is an immediate opportunity to push rents as this property is in the lease up phase and over 50% are yet to be leased. The current average loss to lease on in place rents is over 19%. This is an opportunity for a savvy owner to set the tone and seek rents closer to the market rents.

The property is located less than 1-mile from Microsoft’s 90-acre campus that will employ up to 15,000 people. The property is also within close proximity to the New Westside Park, Rodney Cook Senior Park and the Atlanta Westside BeltLine. Many deem this to be the southern extension of the already thriving West Midtown. A new owner will benefit from having a completely renovated property in one of Atlanta’s premier up-and-coming communities.

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