12Hundred Studios
Property Description
Turnkey Affordable Housing Asset with Significant Recent Capital Investment: 12Hundred Studios was originally built in 1960 and underwent a comprehensive gut renovation completed in 2022 by current ownership, representing approximately $2 million in capital investment toward property-wide upgrades and modernization. The asset features durable brick exteriors and is in turnkey physical condition, supported by significant recent capital improvements. All units are fully furnished, fully electric, include washer/dryer combo appliances, murphy beds, flatware, silverware, pots and pans, and cooking utensils.Equity-Led Takeover with Immediate Operational Upside: This equity-led takeover presents a rare opportunity to acquire the asset below replacement cost and historical basis. With preferred equity now in control and new management in place, the property offers a clean, stabilized entry point for investors. The asset is 100% restricted at 60% AMI under a LURA expiring in 2033, supporting durable, needs-based demand. It also benefits from an established lease-up pipeline, including pre-designated units for Open Doors and the Atlanta Housing Authority, as well as expressed interest from additional local affordable housing programs.Major Infrastructure Improvements Unlock Connectivity: The property benefits from strong connectivity to Downtown Atlanta, providing convenient access to major employment centers, entertainment, and transit infrastructure within minutes. It is also steps from the Atlanta BeltLine, offering access to one of the city’s most transformative mixed-use trails with direct links to parks, neighborhoods, dining, and retail along the corridor.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| No. of Units: | 40 |
| Lot Size: | 10,000.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
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