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12-Unit Value-Add Multifamily Opportunity | West Midtown | Hollyvale Terrace

399 Holly Street
Atlanta, GA 30318
PRICE : $1,200,000
CAP RATE: 6%
PROPERTY TYPE: Multifamily
SITE SIZE: 0.44 Acres
UNITS: 12
YEAR BUILT: 1965

Highlights

  • 2-building, 12-unit apartment complex
  • All units are 2 bedroom/1 bath
  • Value-Add opportunity through cosmetic renovations to increase rents
  • Below market rents = financial upside potential as units turnover
  • 92% occupancy rate
  • All units are fully electric and have dishwashers and washer and dryer connections
  • Select units have exposed interior brick walls
  • Located in a Qualified Opportunity Zone
  • Excellent prime location in West Midtown
  • Located less than 1 mile away from Quarry Yards, which was recently purchased by Microsoft

Description

Bull Realty is pleased to present Hollyvale Terrace Apartments, a value-add, 12-unit apartment community, located in West Midtown. The units are all 2 bedroom / 1 bath and are all fully electric with dishwashers and have washer and dryer connections. Located in a Qualified Opportunity Zone, this property has a strong occupancy rate of 92%.

The community is just a 10-minute drive to I-85, Georgia Tech, Mercedes-Benz Stadium, and many other Atlanta attractions. West Midtown is an evolving neighborhood that is only a short drive to Downtown Atlanta, Midtown, Atlantic Station and only a 20-minute drive to Buckhead.

Microsoft just announced the purchase of the Quarry Yards, located less than a mile away, a 70-acre development site that is being proposed for affordable housing and office space. The Quarry Yards is located adjacent to the new Westside Park, a 300-acre park.

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