34-Unit Multifamily Opportunity in Atlanta

2959 Forrest Hills Dr SW, Atlanta, GA

Market Price

Price

$405,637

NOI

31,400 sqft

Building Size

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Street
Map
Overview
NOI
$405,637
Building Size
31,400 sqft
Lot Area
1.33 acres
Occupancy
67%
Units
34
Year Built
1962
Parking Spots
40
Description

Exclusively offered by Realty ONE Group Terminus, this rare 34-unit multifamily apartment complex located in the town of Hapeville. Built in 1962 this 3-building property consists of ten 1 bedroom / 1 bath flats and twenty-four 2 bedrooms / 1.5 bath townhouse style units.
Sixteen units were updated in 2011 and the additional eighteen were fully renovated in 2022. Townhomes at Hapeville has 53% fully renovated apartments and 67% occupancy, due to renovations.


Townhomes at Hapeville is located just south of downtown Atlanta in Aerotropolis submarket. Located directly across from Forrest Hills Academy, a 6-12 charter school as well as easy access to all major interstates and only a 10-minute drive to Hartsfield Jackson Airport. This apartment complex is in a highly desired investment submarket being just 5 minutes from the charming historic downtown district. Close in proximity to Porsche North America Headquarters and Experience Center, Delta Airlines Headquarters, Wells Fargo Corporate Office, and other high-profile corporations.
Hapeville’s rapid growing community has a new mixed-use multi-family community coming in March 2023. This will consist of luxury apartments, quality retail, and restaurants which will all continue to drive the growth of Hapeville.

Highlights
  • Huge value-added opportunity
  • 34 Unit apartment complex in upcoming area of Hapeville
  • 18 fully remodeled units
  • New roof in 2021
  • Both townhome and flat units
  • 1 & 2 bedrooms and 1 & 1.5 bathrooms
Documents
Location
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