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West Atlanta Multifamily Opportunity | 6.5% Cap Rate

1097 & 1111 Westview Drive
Atlanta, GA 30310
PRICE : $3,345,000
CAP RATE: 6.5%
PROPERTY TYPE: Multifamily
UNITS: 26
YEAR BUILT: 1953

Highlights

  • $1,000,000 renovation completed in 2018
  • Granite counter tops
  • Black appliance package with dishwasher
  • All electric units with central HVAC
  • Laundry connections
  • New roofs, plumbing, kitchens and bathrooms
  • Excellent location with close proximity to Downtown Atlanta, Atlanta University Center and the BeltLine

Description


Bull Realty is pleased to present Greenwood at Westview, a charming 26-unit apartment community in the West End submarket of Atlanta. The property features a unit mix of 20 (2) bedroom (1) bath units & 6 (1) bedroom (1) bath units. The property has had over $1,000,000 in renovations which include new roofs, HVAC, electrical, plumbing, kitchens & baths with granite counter tops and several other upgrades.

Greenwood at Westview has an average rent of $1.42/SF with room to continue to push rents, based on the rent survey on page 11 of the Offering Memorandum. The property is currently 100% leased and is an excellent opportunity at a 6.5% cap rate.

Greenwood at Westview is located directly across the street from Truly Living Well Center Community Garden, 0.3 miles from the BeltLine entrance, 1 mile from the Atlanta University Center which have over 7500 students, 1.8 miles for the Mercedes -Benz Stadium & only 2.8 miles from Downtown Atllanta.

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