Courtesy of: Patrick Peyer, Keller Williams Realty, patrickpeyer@gmail.com
Courtesy of: Patrick Peyer, Keller Williams Realty, patrickpeyer@gmail.com
$3,950,000
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Lot: 0.15 Acres
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Other
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$3,950,000
1860 S Columbia Place 21 working-class rental units on 19 parcels, conveniently located in close proximity to each other within the booming 30032 zip code. 100% Occupancy. Current rents average $1, 216/month - $25, 550/month gross - against a market rate average of $1, 582. That gap is intentional. There are many long term tenants and every unit that turns has potential to be a profitable flip, cosmetic renovation and rent bump or just re-lease at the same price. The 30032 zip code sits on I-20 and near I285 with direct access to Downtown Atlanta, East Atlanta Village, and Hartsfield-Jackson. The Avondale MARTA station is nearby. These are practical amenities that keep working-class renters in place. The corridor is moving. Belvedere Plaza at Memorial Drive and Columbia Drive just landed a $24.3 million redevelopment backed by a $3 million Decide DeKalb grant - four national retailers and a full-service grocery anchor coming in 2027. DeKalb County's long-range plan calls for mixed-use and multifamily density along Memorial Drive. That's not speculation. That's a unanimous board vote and a developer writing a real check. Publix is opening a second store on Glenwood close to these properties. The play is straightforward. Collect $25, 550/month while you hold. Renovate as units turn. Re-lease at market rate. A fully repositioned portfolio at $1, 582/month gross clears over $33, 200/month. Or flip individual renovated units as retail sales. Working-class housing. Below-market rents. I-20 access. A corridor with institutional money coming in behind it.
Courtesy of: Patrick Peyer, Keller Williams Realty, patrickpeyer@gmail.com
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