3593 Woodbriar Cir Tucker, GA 30084

Property Details for 3593 Woodbriar Cir

Year built

1975

Property size

46,213 SF

Property type

Commercial real estate

Description

This exceptional multifamily investment opportunity presents the Northlake Manor Condominiums, a 47-unit apartment complex situated on a 5.34-acre lot in Tucker, Georgia. Built in 1975, the property boasts a total of 46,213 square feet across nine, two-story buildings, offering a mix of unit sizes and layouts. The unit mix includes twelve one-bedroom/one-bathroom, seventeen two-bedroom/two-bathroom, and eighteen three-bedroom/two-bathroom apartments, averaging 983 square feet each. Currently, the average rent is $1,330 per unit, while market average rents stand at $1,414, suggesting significant upside potential. Twenty-four units have undergone recent renovations, featuring granite countertops, LTV flooring, upgraded fixtures (including soft-close cabinets), stainless steel appliances (stove, microwave, dishwasher, and refrigerator), and central HVAC systems. All units include ample closet space, walk-in pantries, cable readiness, and private outside patio porches or balconies. The property's density is nine units per acre, and utilities are included in the HOA fees. The asking price is $6,525,000, representing a price per unit of $138,830 and a cap rate of 7.18%. This well-located property offers a compelling investment opportunity with strong potential for future growth and returns. The property is comprised of multiple APNs.