1104 Penrose Dr. Dalton GA
Multifamily
Marketing description
Beautiful multifamily building, fully occupied all tenants pay $1150 per month.
Management company available to continue.
This offering presents a 3,072-square-foot, four-unit multifamily property located at 1104 Penrose Drive in Dalton, Georgia, situated on a 20,152-square-foot site zoned C-1. The asset’s primary value driver is its small-format apartment configuration within a single-building layout, which may appeal to investors seeking operational simplicity and exposure to workforce-oriented multifamily demand.
Built in 2000, the property contains four residential units in one building on approximately 0.27 acres. Public record activity indicates the asset traded for $405,000 in June 2024, equating to roughly $131.84 per square foot, reflecting recent market validation of the property’s pricing benchmark and providing a current basis for underwriting.
The investment thesis is centered on the acquisition of a recently transacted, efficiently scaled multifamily asset in Dalton with straightforward physical characteristics, modest lot coverage, and commercial zoning that may support long-term flexibility. For buyers targeting smaller multifamily investments, the property offers a manageable unit count, a clearly defined parcel, and a recent sales comp reference that can support near-term valuation analysis and future repositioning decisions.
Investment highlights
- Modern vintage relative to many small multifamily assets.
- Built in 2000, the property is newer than much of the legacy small-balance apartment stock often found in secondary markets. A more recent construction date may translate into lower near-term replacement risk for major building systems compared with older inventory.
- Defined site size offers usable land area without excess overhead.
- The parcel totals 20,152 square feet, or about 0.27 acres, creating a compact site that remains large enough to support the existing improvements. This balance may help contain grounds-related operating demands while preserving site functionality.
- Dalton location offers exposure to a proven North Georgia rental market.
- The property is located in Dalton, the economic center of Whitfield County and a regional employment hub in Northwest Georgia. For small multifamily investors, that setting may support recurring renter demand tied to local employment and neighborhood-serving housing needs.
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