170 Mitchell SW St Atlanta, GA 30303-3424

Property Details for 170 Mitchell SW St

Lot size

0.06 lot acres

Zone code

SPI1

Property type

Parking lots & garages

APN

14 007700020429

APU

14007700020429

Description

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.

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Longitude

-84.3938

Latitude

33.7516

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments