50 Mt Zion SW Rd Atlanta, GA 30354-2359

This exceptional 172-unit apartment building in Atlanta, Georgia, presents a compelling value-add investment opportunity. Located at 50 Mount Zion Rd, in Fulton County, zip code 30354, this Class C multifamily property, built in 1971 and renovated in 2005, offers significant potential for investor returns. Currently operating under the Low-Income Housing Tax Credit (LIHTC) program, the property boasts an attractive assumable loan with a high loan-to-value ratio and a 5.77% interest rate, with only two years remaining of interest-only payments. The asking price is $17,200,000, translating to approximately $100,000 per unit. LIHTC rents were increased by 3% in 2024, offering immediate rental upside on new leases and renewals. The property is strategically located near major Atlanta employers, providing strong occupancy potential. Furthermore, a new owner has the option to pursue a Qualified Contract (QC) process to transition the property to market-rate rents, eliminating LIHTC restrictions. Comprehensive due diligence materials, including insurance loss runs showing no recent claims, and documents for the QC process are readily available. This property represents a rare chance to acquire a well-positioned asset with substantial upside potential in a thriving Atlanta market.