Log In/Sign Up
Your email has been sent.
Harmony Oaks Apartments 210 Matthews Ave 64 Unit Apartment Building $6,117,750 CAD ($95,590 CAD/Unit) Carrollton, GA 30117
Investment Highlights
- Significant Value-Add Opportunity with proven rent upside
- Fully electric property offering operational efficiency and reduced expense complexity
- Proximity to planned mixed-use, retail, and infrastructure developments
- One-bedroom units approximately $207 below market rents | Two-bedroom townhome units approximately $330 below market rents
- Strategic Proximity to UWG East Campus providing immediate access to university-driven tenant demand and the emerging Maple Street growth corridor
Executive Summary
Marcus & Millichap is pleased to present for sale Harmony Oaks Apartments located at 210 Matthews Avenue in Carrollton, Georgia. Built in 1970, the 60-unit multifamily community presents a compelling value-add investment opportunity supported by significant below-market rents, strong workforce housing demand, and its location within a steadily evolving submarket.
The community consists of one-bedroom units and two-bedroom townhouse-style units, offering a desirable unit mix that appeals to a broad tenant base. Current rental rates are substantially below market, with one-bedroom units averaging approximately $207 below market and two-bedroom townhomes approximately $330 below market. This creates a clear and executable path to revenue growth through a targeted renovation program and strategic operational enhancements. The property is fully electric, providing operational efficiency and simplified utility management.
Harmony Oaks is well-positioned within the Matthews Avenue and Maple Street corridor, an area experiencing early-stage revitalization and increasing municipal and investor attention. Ongoing and proposed developments in the surrounding area—including mixed-use projects, retail expansion, and infrastructure improvements—are contributing to the long-term transformation of the neighborhood. In addition, continued investment throughout Carrollton, including downtown redevelopment and expanding commercial activity, is strengthening the city’s economic foundation and driving sustained housing demand.
With its combination of meaningful rent upside, functional unit mix, and proximity to emerging growth initiatives, Harmony Oaks offers investors the opportunity to implement a proven value-add strategy while benefiting from improving market fundamentals. The asset is well-positioned to deliver both near-term income growth and long-term appreciation within a growing and increasingly dynamic submarket.
The community consists of one-bedroom units and two-bedroom townhouse-style units, offering a desirable unit mix that appeals to a broad tenant base. Current rental rates are substantially below market, with one-bedroom units averaging approximately $207 below market and two-bedroom townhomes approximately $330 below market. This creates a clear and executable path to revenue growth through a targeted renovation program and strategic operational enhancements. The property is fully electric, providing operational efficiency and simplified utility management.
Harmony Oaks is well-positioned within the Matthews Avenue and Maple Street corridor, an area experiencing early-stage revitalization and increasing municipal and investor attention. Ongoing and proposed developments in the surrounding area—including mixed-use projects, retail expansion, and infrastructure improvements—are contributing to the long-term transformation of the neighborhood. In addition, continued investment throughout Carrollton, including downtown redevelopment and expanding commercial activity, is strengthening the city’s economic foundation and driving sustained housing demand.
With its combination of meaningful rent upside, functional unit mix, and proximity to emerging growth initiatives, Harmony Oaks offers investors the opportunity to implement a proven value-add strategy while benefiting from improving market fundamentals. The asset is well-positioned to deliver both near-term income growth and long-term appreciation within a growing and increasingly dynamic submarket.
Property Facts
| Price | $6,117,750 CAD | Lot Size | 2.80 AC |
| Price Per Unit | $95,590 CAD | Building Size | 46,200 SF |
| Sale Type | Investment | Average Occupancy | 95% |
| No. Units | 64 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1967 |
| Property Subtype | Apartment | Parking Ratio | 5.17/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | R2 | ||
| Price | $6,117,750 CAD |
| Price Per Unit | $95,590 CAD |
| Sale Type | Investment |
| No. Units | 64 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.80 AC |
| Building Size | 46,200 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1967 |
| Parking Ratio | 5.17/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R2 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Heating
- Ceiling Fans
- Tile Floors
- Refrigerator
- Range
- Carpet
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Security System
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 62 | - | 550 - 650 |
| 2+1.5 | 2 | - | 900 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | C08-0130002 | Improvements Assessment | $1,065,748 CAD |
| Land Assessment | $114,899 CAD | Total Assessment | $1,180,647 CAD |
Property Taxes
Parcel Number
C08-0130002
Land Assessment
$114,899 CAD
Improvements Assessment
$1,065,748 CAD
Total Assessment
$1,180,647 CAD
1 of 36
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
Harmony Oaks Apartments | 210 Matthews Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.