Oakview Gardens Apartments | 20 Units
711 Oakview Road
Decatur, GA 30030
| PRICE : | $5,100,000 |
|---|---|
| CAP RATE: | 6.19% |
| PROPERTY TYPE: | Multifamily |
| SITE SIZE: | 2.00 Acres |
| UNITS: | 20 |
| YEAR BUILT: | 1973 |
Highlights
- • Highly desirable location just steps from downtown Oakhurst
- • Spacious renovated units with large open kitchens
- • All units have oversized exterior decks and in-unit laundry
- • Large, underutilized storage area that could potentially be converted to potential additional units, amenity space or tenant storage units - See Page 11 of OM
- • All electric, no gas
- • ± 2-acre site with open green space and ample parking
- • Excellent schools nearby. Walking distance to Agnes Scott College.
- • Strong tenant demand due to high barriers to entry for new multifamily development in the immediate area
Description
Rare opportunity to acquire 20 units in the highly desirable Oakhurst neighborhood of Decatur, GA. This irreplaceable
location is steps from several popular restaurants & shops in downtown Oakhurst and the Trolley Line Trail (walking/running path). It’s also in very close proximity to two parks, Agnes Scott College and a short drive to downtown Decatur. The property is situated on ±2 acres with potential for future redevelopment with brand new townhomes across the street selling in the $700,000’s.
Over the past year or so, the owners have been renovating units as leases come due with increased rents upwards
of $1,850 per unit. Around half of the units are currently complete with several in process. Seller intends to deliver the property with all units renovated or provide a credit for any remaining nonrenovated units in need of completion at closing.
