2600 Old Hapeville Rd SW Atlanta, GA 30315

This is an opportunity to acquire an 80-unit apartment complex inside I-285 in Atlanta. The property requires renovation, with 25% of the units online, and 10% of these currently occupied. The remaining 75% of the units have varying degrees of damage and deferred maintenance, including fire damage affecting 4 units, past water damage, and vandalism. The property last sold for $10,000,000 in December 2022. The units are spacious with separate dining areas and ample closet space. All units have private balconies off the living rooms. There is an onsite leasing office. The gated property includes a large greenspace/courtyard between the buildings and mature trees. One of the buildings has underutilized basement space that could be converted to onsite laundry. There is excess land to add a playground and/or other amenities. The property offers potential redevelopment opportunities with 6+ acres of land inside I-285 in a gentrifying neighborhood of Atlanta. It is adjacent to Cleveland Avenue Elementary School and provides easy, quick access to I-85 and I-75, downtown Atlanta, and Atlanta International Airport. There is potential to convert all of the 2 bed / 1 bath units into 2 bedroom / 2 bath units with open kitchen-to-living-room floorplans.