Log In/Sign Up
Your email has been sent.
Kings Court Apartments 2099 Martin Luther King Dr 24 Unit Apartment Building $2,974,082 CAD ($123,920 CAD/Unit) Atlanta, GA 30310
EXECUTIVE SUMMARY
True-value add opportunity in the West End area of Atlanta. Located directly across from the historic Westview Cemetery with Marta bus access in front of the property. The current owner has not made any efforts to raise rents or lease units in anticipation of a sale. All rents are significantly below market with an avg. in place rent of only $850/unit. Hence this is not an cap rate sale as the property is currently only 60% occupied. Being sold as is, as a value-add opportunity, not based on current income.
All units are 2 bed/ 1 bath floorplans in classic condition with a few select units upgraded to accommodate Airbnb use. All units have central HVAC with in-unit laundry connections. The property is separately metered for electric and gas. Water is common.
Easy access to I-20, downtown Atlanta and the popular West End Neighborhood. The Pro Forma cap rate for this property is 8.5%
All units are 2 bed/ 1 bath floorplans in classic condition with a few select units upgraded to accommodate Airbnb use. All units have central HVAC with in-unit laundry connections. The property is separately metered for electric and gas. Water is common.
Easy access to I-20, downtown Atlanta and the popular West End Neighborhood. The Pro Forma cap rate for this property is 8.5%
PROPERTY FACTS
| Price | $2,974,082 CAD | Building Class | C |
| Price Per Unit | $123,920 CAD | Lot Size | 0.65 AC |
| Sale Type | Investment | Building Size | 15,072 SF |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 1.59/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | C1 - Central Business District | ||
| Price | $2,974,082 CAD |
| Price Per Unit | $123,920 CAD |
| Sale Type | Investment |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.65 AC |
| Building Size | 15,072 SF |
| No. Stories | 2 |
| Year Built | 1954 |
| Parking Ratio | 1.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | C1 - Central Business District |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Washer/Dryer Hookup
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Carpet
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 24 | - | 628 |
1 1
PROPERTY TAXES
| Parcel Number | 14-0173-0007-044-3 | Improvements Assessment | $2,024,359 CAD |
| Land Assessment | $132,181 CAD | Total Assessment | $2,156,540 CAD |
PROPERTY TAXES
Parcel Number
14-0173-0007-044-3
Land Assessment
$132,181 CAD
Improvements Assessment
$2,024,359 CAD
Total Assessment
$2,156,540 CAD
1 of 21
VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
Kings Court Apartments | 2099 Martin Luther King Dr
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.