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969 Forest Ave
Forest Park, GA 30297
Azul Door Apartments | 48 Units · Multifamily Property For Sale
·
48 Units
Investment Highlights
- Fully renovated (2020–2021)
- On-site laundry facility and leasing office
- 10 minutes from Hartsfield Jackson Atlanta International Airport
- Stabilized Asset | 94% Occupancy
- Adjacent to the newly built Forest Park Middle School
- Close proximity to nearby restaurants, retail and grocery
Executive Summary
Azul Door Apartments is a fully renovated 48-unit apartment community located at 969 Forest Avenue in Forest Park, Georgia. Originally built in 1965, the property underwent a complete interior and exterior renovation between 2020 and 2021, repositioning it as a modern, low-maintenance asset. The community consists of eight brick buildings situated on approximately 2.27 acres and features a well-balanced unit mix of one, two, and three-bedroom floor plans.
All units have been upgraded with LVT flooring (no carpet), granite countertops, new cabinetry, updated appliances, individual HVAC systems, and modern lighting and plumbing fixtures. Exterior improvements include new pitched roofs (2020), new windows, fresh paint, and fully repaved parking areas completed in 2022. Additional amenities include an on-site laundry facility and leasing office, enhancing both tenant convenience and operational efficiency.
Currently 94% occupied, the property has an average rent of $1,115 and benefits from a utility structure where tenants pay electricity directly, and water is billed back, providing additional income potential. Azul Door Apartments presents a stabilized investment opportunity with strong in-place cash flow and continued upside through rental growth and operational efficiencies.
All units have been upgraded with LVT flooring (no carpet), granite countertops, new cabinetry, updated appliances, individual HVAC systems, and modern lighting and plumbing fixtures. Exterior improvements include new pitched roofs (2020), new windows, fresh paint, and fully repaved parking areas completed in 2022. Additional amenities include an on-site laundry facility and leasing office, enhancing both tenant convenience and operational efficiency.
Currently 94% occupied, the property has an average rent of $1,115 and benefits from a utility structure where tenants pay electricity directly, and water is billed back, providing additional income potential. Azul Door Apartments presents a stabilized investment opportunity with strong in-place cash flow and continued upside through rental growth and operational efficiencies.
Property Facts
| Price Per Unit | $133,721 CAD | Lot Size | 2.27 AC |
| Sale Type | Investment | Building Size | 40,750 SF |
| Cap Rate | 7% | Average Occupancy | 94% |
| No. Units | 48 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1965/2020 |
| Property Subtype | Apartment | Tenancy | Single |
| Apartment Style | Garden | Parking Ratio | 1.63/1,000 SF |
| Building Class | C | Opportunity Zone |
Yes
|
| Zoning | RM, Clayton County - R4 | ||
| Price Per Unit | $133,721 CAD |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 48 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 2.27 AC |
| Building Size | 40,750 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built/Renovated | 1965/2020 |
| Tenancy | Single |
| Parking Ratio | 1.63/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM, Clayton County - R4 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer Hookup
- Heating
- Crown Molding
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Basketball Court
- Smoke Free
- Trash Pickup - Curbside
- Online Services
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 34 | - | 850 |
| 2+1 | 10 | - | 950 - 1,000 |
| 3+1 | 4 | - | 950 - 1,100 |
Property Taxes
| Parcel Number | 13-0049A-00A-009 | Improvements Assessment | $1,229,367 CAD |
| Land Assessment | $81,666 CAD | Total Assessment | $1,311,034 CAD |
Property Taxes
Parcel Number
13-0049A-00A-009
Land Assessment
$81,666 CAD
Improvements Assessment
$1,229,367 CAD
Total Assessment
$1,311,034 CAD
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