18-Units Total in 2 Buildings (1580 and 1600 Oakpointe Drive). SELLER WILL FINANCE TO A QUALIFIED BUYER (MIN 20% DOWN). All units are 1 bedroom and 1 bath and approximately 800 SF. Average rents are $500 to $525. Currently the property is 100% leased but historically there has been some vacancy and collection loss and higher operating costs (IDEAL FOR HANDS-ON OWNER).
$16,500,000Size Upon Req.
- Extremely rare opportunity to acquire a sizable, 321-site community in an MSA of over 5.6 million people. - 23 vacant and 82 occupied rent-to-own and rental homes with an average cost basis of approximately $15,000 generating gross monthly rent of $12,400 per month for the home only. - Terrific submarket with average household incomes around $63k and median housing values over $208k within a 5 mile radius. - Property can be delivered unencumbered and should qualify for a very attractive fixed rate, long term, non-recourse loan. - At 86% economic occupancy and with 23 vacant homes, there is tremendous opportunity to continue filling vacant homes and sites. Strong tenant demand indicated by the fact that occupancy has increased over 10% since July 2013. - Nearby competing park recently closed and was replaced with retail. - Three-section community that features rolling hills and an attractive, curvilinear layout with mature shade trees throughout and a mix of double- and single-wide homes. - Amenity package includes a pool, playground, clubhouse and offstreet parking. - Community is set up on public utilities and submetered for water and sewer.
Price Upon Req.355,601 SF
Well maintained, recently renovated Class B+ Asset -Highly occupied property with strong in-place cash flow -Within the highly acclaimed East Cobb County School system -Can be acquired for below replacement costs
4 occupied rental houses for sale. All 4 are on month to month terms. Must be sold as a portfolio
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Price Upon Req.235,000 SF
The Lakefront Vista Apartments offers investors the unique opportunity to acquire a well-maintained, cash flowing property with significant upside potential. Located in desirable Cobb County in North Atlanta, with over 7,000 new jobs being created in the area, the subject's submarket is ranked second strongest for rent growth and third highest in occupancy among all of Atlanta's submarkets. With roughly 21% of the property achieving $100-$165 premiums for upgraded units, Lakefront Vista provides a rare value add opportunity in a booming submarket. -Well Located Class B+ Asset with Heavy Lifting Completed -Opportunity to Acquire a Quality Asset at Well-below Current Replacement Costs -Significant Upside Available through Continuing Interior Renovation Program and Organic Rent Growth on New Leases and Renewals