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Park Manor Apartments | 22 Units | Value-Add Opportunity | Prime Midtown Location

711 Piedmont Ave NE
Atlanta, GA 30308
PRICE : $3,300,000
PROPERTY TYPE: Multifamily
SITE SIZE: 0.27 Acres
UNITS: 22
YEAR BUILT: 1926

Highlights

  • 22-Unit apartment building with 100% occupancy
  • Value-Add opportunity with cosmetic upgrades
  • In-place rental income and professional management
  • Vintage 1920's architecture and charm
  • Desirable units for students & professionals
  • Hardwood floors, high ceilings, extensive molding, eat-in kitchens
  • Rear-gravel parking lot for tenants with alley access
  • Walking distance to Piedmont Park, The Fox Theater, two MARTA stations and all of the amenities of Midtown
  • One of the strongest rental markets in Atlanta

Description

711 Piedmont is a 22-unit apartment building located within walking distance to Piedmont Park, The Fox Theatre, two MARTA transit stations, and the Midtown Financial District. Additionally, the area draws tenants from its proximity to Georgia Tech, Georgia State University, The High Museum, and other numerous cultural activities.

711 Piedmont was constructed in 1926 and features several of the familiar charm and characteristics of properties built in this era. The classic style units feature hardwood floors, high ceilings, extensive molding, eat-in kitchens and classic built-in cabinets. Tenants enjoy both on and off-street parking as well as controlled access entry and on-site laundry. Prime location on Piedmont Ave allows for easy and convenient access to Piedmont Park, Midtown retail and shopping and I-85/I-75.

This property presents an investor the opportunity to purchase a 100% occupied stabilized asset in an unmatched location and create value with cosmetic renovations and bringing the current low rents up to market rates. Midtown has steadily remained one of the strongest rental markets in Metro Atlanta and is expected to be one of the first areas to see rent growth associated with a growth cycle.

*Property is not historic, but does qualify for historic tax credits.

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