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Property profile & analytics
OFF-MARKET
Parking lots & garages

170 Mitchell SW St Atlanta, GA 30303-3424

0.06 ac lot
Entity Owned 2-yr Hold Free & Clear
Property ID
US22-1888903
Property summary
AI-generated overview

This exceptional investment opportunity presents a portfolio of preferred equity in a stabilized, cash-flowing multifamily portfolio. The offering totals $2,853,000 and boasts a projected 6.5% cap rate. The portfolio comprises 857 units across ten buildings, each three stories high, totaling 857 units. Constructed between 1956 and 2020, with renovations completed in 2021, these properties are well-maintained and currently enjoy a 98% occupancy rate as of May 1, 2024. The portfolio is classified as Class C and is zoned for multifamily use. The investment structure is preferred equity, senior to common equity and junior to a first mortgage. All investments are secured by personal guarantees from the deal sponsor, and an unrestricted power of attorney to sell the asset after sixty days is in place. Three of the eight notes are fully amortizing, while the remaining five amortize at rates between 25% and 75%. Remaining terms range from 41 to 55 months. The portfolio includes seven multifamily properties and one manufactured housing property, with five considered Naturally Occurring Affordable Housing (80% AMI) and three located in Section 8 markets. These properties are located across five states: Georgia, Minnesota, Indiana, Michigan, and Washington, D.C. The specific addresses will be provided during the due diligence process. Monthly distributions to investors commence immediately. Minimum investment is $250,000.

Property profile
Verified
Property type Parking lots & garages
Use group PARKING LOT
Lot 0.06 ac (2,614 SF)
Zoning code SPI1
APN 14 007700020429
UPID US22-1888903
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Jason Coffman Law Office Law Firm
  • David Lefkowitz, The Lefkowitz Firm, LLC Law Firm
  • NEWPORT RE LP Corporate Office Financial Advisor
  • Flip Investment Group Financial Advisor
  • Phillip Rogers Investments Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request
Owner & transaction history
Sodo 187 Mitchell St LLC · 2 yrs held
Sodo 187 Mitchell St LLC
since 2023
5 recorded transactions
2023
$350,285
2022
$1.9M
2010
$47,000
1987
$115,200
1969
Price N/A
Zoning & alternative use
SPI1 · Atlanta, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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