South Atlanta Cardinal Property Portfolio
South Atlanta Cardinal Value-Add Portfolio | Lender Owned - Distressed Sale Opportunity
Marketing description
CARDINAL-STYLE ASSETS WITH DESIRABLE CONSTRUCTION ELEMENTS
• Autumn Cove, Oakley Shoals, Pine Knoll, and Garden Gate are lender owned Cardinal communities
constructed in 1985 and 1986. The properties can be purchased together or individually.
• The portfolio comprises 257 thoughtfully designed studio, one- and two-bedroom residences, each offering
total electric utilities, washer and dryer connections, and semi-private fenced patios for enhanced resident
comfort and privacy.
• Cardinal-style properties offer operational simplicity and efficiency, featuring low operating and utility costs,
efficient unit layouts, and limited amenities, resulting in a streamlined management model.
• Lender has infused $160,000+ to cure life safety and code violations at Oakley Shoals.
Investment highlights
VALUE-ADD THROUGH INTERIOR RENOVATION PROGRAM
• A majority of interiors at Autumn Cove, Oakley Shoals, and Garden Gate feature classic finishes,
offering a clear value-add opportunity for future renovation. Former ownership implemented select
interior upgrades at Pine Knoll.
• Many Cardinal property interiors have been updated by removing bookshelves, adding faux granite
countertops, black appliances, wood-look vinyl flooring, brushed nickel lighting and fixtures. See photos
on the right.
• Rent comparables suggest upgraded units will command $100-$150 premiums over the current market
rents, which would still fall on the low end of the spectrum for Cardinal-style properties. At an estimated
cost of $7,500 per unit to upgrade each floorplan, this renovation program would yield an NOI of over
$1,207,800+.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Is there information that looks off?
