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Congress Multifamily Redvelopment ATL 5885 Oakbrook Pky 148 Unit Apartment Building For Sale Norcross, GA 30093
Investment Highlights
- LENDER ORDERED SALE
- Tremendous visibility from Interstate 85 North of Atlanta
- Plans and drawings ready to submit for permit
- Call For Offers
- Fully entitled for 178 multifamily units
Executive Summary
The Congress Hotel Redevelopment is an ideal value add investment as currently entitled for 178 Multifamily units, great location and size of the property. In addition, there are many meeting spaces that allow for changes to the configuration and count of 1 and 2 bedrooms to this property.
The Occupancy and Rent in this market are strong and will allow this property, once completed, to stabilize quickly. The visibility from I-85 with signage is a tremendous plus. Easy walking distance to the nearby Farmer's Market and plaza of retail options make it perfect for tenant's to stay here.
As the economic environment shows someheadwinds ahead, the rental market will continue to grow. High interest rates are making it difficult to buy a home in the near term, but make it an ideal time to own an apartment complex which could open very quickly.
The Occupancy and Rent in this market are strong and will allow this property, once completed, to stabilize quickly. The visibility from I-85 with signage is a tremendous plus. Easy walking distance to the nearby Farmer's Market and plaza of retail options make it perfect for tenant's to stay here.
As the economic environment shows someheadwinds ahead, the rental market will continue to grow. High interest rates are making it difficult to buy a home in the near term, but make it an ideal time to own an apartment complex which could open very quickly.
Property Facts
| Sale Type | Investment | Building Class | B |
| Sale Condition | Redevelopment Project | Lot Size | 3.75 AC |
| No. Units | 148 | Construction Status | Proposed |
| Property Type | Multifamily | Building Size | 102,250 SF |
| Property Subtype | Apartment | No. Stories | 3 |
| Apartment Style | Low-Rise | Year Built | 2027 |
| Zoning | HRR | ||
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 148 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 3.75 AC |
| Construction Status | Proposed |
| Building Size | 102,250 SF |
| No. Stories | 3 |
| Year Built | 2027 |
| Zoning | HRR |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Refrigerator
- Oven
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 31 | - | - |
| 1+1 | 86 | - | - |
| 2+1 | 31 | - | - |
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Property Taxes
| Parcel Number | 6-196-138 | Improvements Assessment | $3,394,271 CAD |
| Land Assessment | $813,499 CAD | Total Assessment | $4,207,770 CAD |
Property Taxes
Parcel Number
6-196-138
Land Assessment
$813,499 CAD
Improvements Assessment
$3,394,271 CAD
Total Assessment
$4,207,770 CAD
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Congress Multifamily Redvelopment ATL | 5885 Oakbrook Pky
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