Listed by Matthews
$3,150,000
3781 MLK Jr Dr Southwest
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 20,750
Units 26
Cap Rate 6.35%
NOI $205,297
Pro-Forma Cap Rate 7.45%
Price per SqFt $152
Year Built 1966
Year Renovated 2021
Buildings 3
Acreage 1.650
Fully Renovated 26-Unit Multifamily with Assumable Agency Debt in Atlanta
Investment highlights
- Significant Capital Investment: Ownership invested over $1.3M on a full gut renovation with everything new on the building other than the exterior shell. This includes new framing, plumbing, electrical, windows, HVACs, water heaters, and full gut interior renovations.
- Assumable Freddie Mac Financing: Current in place assumable agency financing with a 4.24% interest rate and over 6 years of remaining term.
- Attractive Floorplans: All of the units are spacious two or three bedroom townhome style floorplans.
- Washer/dryer connections: Every unit includes laundry hookup.
- Gated Community With Security Features: Gated with control access and new video surveillance system.
- Convenient Access to I-285 and I-20: Provides easy connectivity to Downtown, Hartsfield Jackson Airport, and all major employment corridors throughout West ATL.
Listing Contacts
Listed by Matthews
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$205,297.00
$17,108.08/mo
Valuation Metrics
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DSCR
6.52%
Cap Rate
6.52%
ROI
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