641 Powder Springs Street SE
- 14-unit multifamily complex in Smyrna, GA
- All 1 Bd / 1 Ba units
- Value-add potential with below market rents
- All units have central HVAC and separate water heaters
- Units are all electric. Laundry room has gas.
- Large eat-in kitchens
- Off-street parking
- Close proximity to I-75, I-285 and Truist Park
- Large basement area for storage
- On-site coin laundry
Property Description
Rare opportunity to purchase a true value-add multifamily deal in the popular north-metro Atlanta suburb of Smyrna. The property is currently approximately 60% occupied and is not stabilized and is being offered as a value-add opportunity with significant upside potential through lease-up and operational improvements. Please refer to the pro forma on page six for projected stabilized performance. The complex consists of 14 spacious 1-bedroom/1-bath units, all with large eat-in kitchens. The majority of the current rents are well below market, allowing for significant upside for a new owner through lease-up and cosmetic interior improvements. All units feature central HVAC and separate water heaters. All units are electric. Laundry room has gas. The property also offers ample off-street parking, a coin laundry room on-site, and a large basement area for storage. Located just off S. Cobb Drive, the property sits approximately half a mile from Campbell HS and provides easy access to Downtown Smyrna, Truist Park/The Battery Atlanta, and I-285 and I-75.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $1,500,000 |
| No. of Units: | 14 |
| Lot Size: | 0.70 Acres |
| Opportunity Zone: | No |
| Price per unit: | $107,143 |
| Property Website | Click Here |
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