1124 Wylie St Atlanta, GA 30316
- Commercial real estate
- 41,664 SF
Current Use by Public Records
- Reynoldstown Commons / Housing Complex / Apartment Complex
Property Details for 1124 Wylie St
- Year built
- 2005
- Property size
- 41,664 SF
- Property type
- Commercial real estate
Description
This exceptional 32-unit apartment building, located at 1124 Wylie St SE in Atlanta, GA, presents a compelling value-add investment opportunity. Built in 2005, the property comprises two three-story buildings totaling 41,664 square feet, boasting a 95% occupancy rate. The property features a mix of one and three-bedroom units, 19 surface parking spaces, and desirable on-site amenities including a gazebo, community room, laundry facilities, and a playground. Benefiting from a prime location in the sought-after Reynoldstown neighborhood, the property enjoys proximity to the Atlanta Beltline Eastside trail, MARTA transit, Interstate 20, and a variety of retail and dining options. Currently operating as LIHTC affordable housing, with approximately 12 years remaining on the LURA and LURC, the property offers significant upside potential through increased allowable rents. The property is QC eligible and has historically demonstrated high occupancy and low turnover. Individual electric meters are in place. The walk score is 77, reflecting its pedestrian-friendly location. The property is conveniently located 12 miles from the Atlanta airport and offers easy access to major thoroughfares. This is a rare opportunity to acquire a stabilized, well-maintained multifamily asset with substantial growth potential in a thriving Atlanta neighborhood.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.3501867
- Latitude
- 33.7528803
