$5,900,000
Rare opportunity to acquire a 44-unit garden-style multifamily community in Atlanta’s South Atlanta/Airport Corridor. Park South Apartments, located at 2612 Steele Avenue SW, offers investors an attractive value-add opportunity with significant capital improvements already completed and additional upside through continued renovations, lease-up, and operational stabilization.
The two-story community features 37 one-bedroom/one-bath and 7 two-bedroom/one-bath residences with surface parking and controlled access. 17 units have been renovated, providing a strong foundation for the next owner to complete the remaining renovation program and continue repositioning the asset. Recent capital improvements include roof replacements, exterior paint, landscaping, paving and striping, HVAC and water heater upgrades, and additional site improvements. The property has 70 parking spaces.
The property is 100% electric with central HVAC and individually metered electricity. Community amenities include gated access, ample on-site parking, and two laundry facilities. The property is also Section 8 approved, providing additional flexibility within Atlanta’s strong workforce-housing market.
Strategically located minutes from Hartsfield-Jackson Atlanta International Airport with convenient access to I-75, I-85 and I-285, Park South benefits from proximity to major employment centers, Downtown Atlanta, Camp Creek Marketplace and the broader Airport/Aerotropolis corridor.
Property is being sold as-is. Please contact the listing broker for Offering Memorandum, rent roll, financial information and additional due diligence materials. Please do not disturb tenants.
7847983
MLS
2612 Steele Sw Avenue, Atlanta
Listing courtesy of Compass.
