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31221569
31221568

42 Joseph E Lowery Blvd SW, Atlanta, GA 30314

KG
GA 385183
Keller Williams Rlty Atl. Part
Listed by Keller Williams Rlty Atl. Part
$1,799,000
137 days on market
Updated 8 days ago

Joseph E. Lowery Infill and Rooftop Residences

Details
APN 14-0109-0001076
Property Type Multifamily
Sub Type Apartment Building, Student Housing
Net Rentable (SqFt) 6,750
Units 6
Beds 12
Cap Rate 7.60%
NOI $118,000
Pro-Forma Cap Rate 5.89%
Pro-Forma NOI $106,000
Broker Co-Op Yes
Class A
Year Built 2026
Buildings 1
Stories 4
Acreage 0.190
Zoning MR-4
Parking Spaces 3 per unit
Investment Type Value Add
Occupancy Date 05/01/2026
Ground Lease No
Ownership Fee Simple

Class A UNDER CONSTRUCTION multifamily with rooftop decks; value-add, DSCR-friendly

Marketing description

Here’s a tighter, more institutional-quality version that still keeps your investor-driven voice and the flexibility narrative strong:

New Construction Multifamily | Value-Add Opportunity | STR & Student Housing Optionality | DSCR-Friendly

Positioned along Atlanta’s rapidly evolving Joseph E. Lowery Boulevard corridor, this newly constructed Class A multifamily asset presents a rare opportunity to acquire a near-complete project prior to stabilization and capitalize on lease-up upside within one of the city’s most active redevelopment corridors.

Scheduled for delivery by Summer 2026, the property consists of six thoughtfully designed units, including three spacious three-bedroom townhomes featuring private rooftop decks and three studio residences, two with dedicated outdoor patio space. The flexible unit mix supports multiple investment strategies, including traditional multifamily leasing, by-the-bed student housing, co-living concepts, and short-term rental operations.

Located just minutes from the Atlanta University Center — including Morehouse College, Spelman College, and Clark Atlanta University — the asset is strategically positioned to benefit from sustained student housing demand. The larger townhome layouts are particularly well-suited for per-bedroom leasing strategies designed to maximize rental revenue.

Additionally, the property’s proximity to Mercedes-Benz Stadium, Downtown Atlanta, and major entertainment districts creates compelling short-term rental potential, further enhanced by Atlanta’s role as a host city for the 2026 FIFA World Cup.

The asset also benefits from its location within the Joseph E. Lowery Complete Street redevelopment initiative, providing enhanced walkability, infrastructure investment, improved streetscapes, and connectivity to MARTA and Atlanta’s urban core.

Offered pre-stabilization and unpriced, investors have the opportunity to drive NOI through lease-up execution, operational optimization, and strategic positioning. Upon stabilization, the property is expected to support attractive DSCR financing options, making it an ideal opportunity for both long-term hold investors and small-balance multifamily operators.

INVESTMENT HIGHLIGHTS

  • New Construction Multifamily Asset
  • Estimated Delivery: Summer 2026
  • 6 Total Units: (3) Three-Bedroom Townhomes + (3) Studio Units
  • Private Rooftop Decks & Outdoor Living Features
  • Multiple Exit Strategies: STR, Student Housing, Co-Living, Traditional Rental
  • Minutes to Atlanta University Center & Downtown Atlanta
  • Near Mercedes-Benz Stadium & 2026 FIFA World Cup Activity
  • Located Within Active City Redevelopment Corridor
  • Lease-Up & NOI Growth Opportunity
  • DSCR-Friendly Small-Balance Multifamily Asset
  • Strong Connectivity to MARTA & Major Employment Centers

INVESTMENT OVERVIEW

  • In-Place NOI: Approximately $120,000
  • Pro Forma NOI: Approximately $135,000
  • Target Stabilized Cap Rate: ~7.5% at Market Pricing
  • Offering: Unpriced

CLOSING ATTORNEY

Leuder, Larkin & Hunter – Buckhead Office

Attn: Alex Brenner

770-450-6290

Investment highlights

Investment Highlights

  • Class A, new construction urban infill

  • Value-add / pre-stabilized investment

  • DSCR-friendly upon stabilization

  • Private rooftop decks for townhome units

  • Select ground-floor studio patios

  • Transit-oriented location near MARTA

  • Blocks from Mercedes-Benz Stadium

  • Positioned within a major Westside redevelopment corridor

Square footage, income, and operating metrics are based on preliminary plans and projections. Buyer to independently verify all information. Projected stabilized income is expected to support DSCR-based lending parameters, subject to buyer underwriting and market conditions.

Listing Contacts

KG
GA 385183
Keller Williams Rlty Atl. Part
Listed by Keller Williams Rlty Atl. Part

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$118,000.00
$9,833.33/mo

Valuation Metrics

0
DSCR
6.56%
Cap Rate
6.56%
ROI

Map

Zoning

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SPI-4-SA7 SpecialAshview Heights And Atlanta University Center Special Public Interest Lowery Low Density Mixed Use Subarea 7
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Last updated May 8, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Karen Graiser
License
385183
Brokerage
Keller Williams Realty Atlanta Partners
Brokerage Phone
770-632-1112
Title
Commercial Real Estate Advisor
Brokerage Address
1200 Commerce Drive
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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