2900 Cp Crk Pkwy College Park, GA 30337-3000

Property Details for 2900 Cp Crk Pkwy

Year built

1970

Construction

WOOD

Lot size

23.06 lot acres

Property size

25,760 SF

Zone code

C1

Property type

Garden apartment buildings

APN

14 0224 LL0481

APU

140224LL0481

Description

This exceptional 280-unit apartment building, situated on a 23.06-acre lot in Atlanta, Georgia, presents a compelling investment opportunity. Built in 1970, the property boasts 257,880 square feet and features a desirable mix of spacious one- and two-bedroom units. The property includes 340 parking spaces and is zoned C1. Significant upside potential exists, with the ability to bring 37 currently offline units back into service, generating an estimated $500,000 in additional gross potential rent. Furthermore, the zoning allows for the development of an additional 153 units on the existing site, leveraging existing utility connections. The property benefits from its location within a designated opportunity zone and its proximity to Camp Creek Marketplace, a major retail and dining destination just five minutes away. A substantial investment was made in 2015 through a $10,000,000 grant for noise insulation, resulting in the complete replacement of all roofs, gutters, windows, and exterior doors. This prime location in "ATL Airport City," a planned 311-acre mixed-use development adjacent to the world's busiest airport, offers unparalleled long-term growth prospects. The property has been privately owned and operated for the past 12 years, demonstrating a proven track record of success. This presents a rare chance to acquire a well-established asset with substantial upside potential in a rapidly developing area.

Location Insight

City

College Park

County

Fulton

State

Georgia

Longitude

-84.4844

Latitude

33.6504

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments