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9-Unit Multi & Single Family Rental Portfolio | Historic Norcross | ±1.9 Acres

619, 639 & 659 S Peachtree Street
Norcross, GA 30071
PRICE : $1,625,000
CAP RATE: 6%
PROPERTY TYPE: Multifamily
SITE SIZE: 1.91 Acres
UNITS: 9

Highlights

  • Includes 3 separate parcels on S Peachtree with a total of 7 structures
  • 9-unit residential income portfolio with 100% occupancy
  • Gross income of $156,000/year with room to increase
  • Off-street parking for tenants
  • Less than to 2 miles to I-85 and 4 miles to I-285
  • Walking distance to Downtown Historic Norcross with charming shops and several well-known restaurants including Dominick's, Mojitos, Zapata & The Crossing
  • Nearby retailers include Target, and Publix as well as The Forum shopping center on Highway-141
  • Buy and hold with potential for future redevelopment
  • Large ± 1.907-acre corner site
  • Growing area demand, surrounding demographics and new area developments make this an up-and-coming market
  • Broadstone Junction Apartments (Alliance Residential), The Brunswick Apartments (Gateway Ventures), and a new public library are developments in the vicinity demonstrating investment to the area - see pages 23 & 24

Description

Opportunity to acquire this 9-unit multi & single family rental portfolio in Norcross, GA. The offering includes 7 total structures (including one shed) across three separate parcels with 100% occupancy. This is an excellent opportunity for an investor to capitalize on existing income with the potential for future redevelopment as area demand continues to grow.

This property is situated within walking distance to the charming Historic Downtown Norcross, and just 30 minutes from Downtown Atlanta. I-85 and I-285 are easily accessible with nearby retailers including Target and Publix as well as The Forum shopping center on Highway-141. Nestled comfortably between affluent Dunwoody and Duluth, the area is undergoing many area developments, namely the new Broadstone Junction and Brunswick Apartments in the nearby vicinity.

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