110 Johnson Street
Multifamily | 16 Units | $96,875/unit
Marketing description
110 Johnson Street presents a compelling value-add multifamily acquisition in Cartersville, Georgia — a rapidly growing submarket approximately 45 miles north of Downtown Atlanta along the I-75 corridor. The property consists of 16 residential units (8 one-bedroom/one-bath and 8 two-bedroom/one-bath).
Current in-place rents of $900 (1BR) and $982.50 (2BR) carry 16.7% and 20.4% rent growth potential to market rates of $1,050 and $1,183 respectively. With two vacant units and a dormant on-site laundry facility, the investment thesis is straightforward: a targeted unit upgrade program that systematically brings rents toward market will generate meaningful NOI growth throughout the hold period, while laundry reactivation provides an additional untapped revenue stream with minimal capital outlay.
- View Listing: https://www.marcusmillichap.com/properties/191436/110-johnson-street
- For more information contact Harold Shepard at [email protected] or (678) 808-2808.
***Do not submit LOI via Crexi
Investment highlights
- Rent upside average of 18.6% with a clear renovation path to close the gap
- $9,000/unit recommended renovation budget generating a $176/unit rent premium — roughly 22% return on renovation capital
- Dormant laundry facility represents untapped ancillary income at minimal cost
- Modest entry basis at $96,875/unit for workforce housing in a growing Atlanta corridor
- Bartow County investment wave: Over $7.5 billion in committed industrial investment from Qcells, Hyundai/SK On, and Hanwha is creating thousands of new jobs
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