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168-unit Value-Add Opportunity in Southeast Atlanta
3321 Peppertree Circle, Decatur, GA
Wildwood Apartments represent an exceptional opportunity for an experienced operator who can build on the solid base this property offers. It was built in1972, and has been well maintained, but the age is starting to show in spots. Construction is a combination of brick and T-111 siding. It has good appeal from the street and lots of grass and open space between buildings. The attractive setting and convenient location help keep occupancy high. Some relatively minor updates, and a tightly run utility bill-through program could bring this property back to its full potential. Perhaps the biggest challenge with the property is that gas is not individually metered. Hot water is supplied from boilers at the end of each building, and all units have gas heat and gas stoves.
There are encouraging signs of new construction in the immediate area: new townhomes right around the corner, new single family subdivision under construction on Flat Shoals, grading for new buildings in a nearby industrial park, etc. This area outside I-285 seems to have a different character from SE Atlanta inside I-285.
Price: $3,864,000 ($23,000/unit)
Shown by appointment only. Please do not disturb tenants!
<< Back to property description
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View from Columbia Drive
Lots of open space between buildings
There are varying amounts of T-111 siding on some buildings
Living Room and Kitchen contemporary layout
Kitchen
Split Level Units are a step above the typical studio
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For More Information Contact:
Vaughan P. Simmons, CCIM
Atlanta Apartment Brokers
Tel: 404-634-6030
Cell/Direct: 404-569-3465
Fax: 404-806-4405
info@atlaptbrokers.com |
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