VIC at Buckhead

05-18-2022
05-18-2022

3518 Roswell Rd NW, Atlanta, GA 30305

Property Description

  • HIGHLIGHTS — The VIC at Buckhead is an attractive, newly renovated, 1962-built multifamily asset in an irreplaceable Buckhead location.
  • The property features 40 two-bedroom floorplans averaging 980 square feet.
  • Opportunity to burn off over $172,000 in loss to lease by bringing all leases up to the newly established rental rate.
  • Opportunity to bring 12 renovated interiors to the “Elite” level.
  • Well-capitalized asset with $3.2M spent since 2018.
  • The Tuxedo Park submarket has performed well in recent years. According to CoStar, market rent increased 11.5% YOY in Q2 2022.
  • Possible condo conversion or covered land play
  • The average household income within a one-mile radius is nearly $154,000, and the median home value within a three-mile radius is over $673,000. The VIC at Buckhead is adjacent to the Brownstones at Habersham, which are townhomes selling for $1M+.
  • All units feature washer/dryer connections, and 31 units feature washer/dryer appliances. A new owner has the opportunity to install appliances in the remaining 9 units and create an additional stream of income.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
No. of Units
40
Year Built
1962
Building Size
39,200 Sq ft
Lot Size
87120 acres
No. of Stories
2
Opportunity Zone
No
Price per unit
$ 0
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33.851017, -84.384574