For Sale
Call for price

2900 Camp Creek PkwyAtlanta, GA 30337

280-unit apartment complex, high potential

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • Significant rental income growth potential (25% upside).
  • Established owner-operator history (12 years).
  • Value-add opportunity: Reactivate 37 units, generating over $500,000 in additional annual gross rent.
  • Desirable unit mix of spacious one- and two-bedroom apartments.
  • Located in a designated Opportunity Zone.
  • Prime location: 5 minutes from Camp Creek Marketplace, a major retail and dining destination.

Property Details for 2900 Camp Creek Pkwy

Property type
Apartment buildings
Square Feet
257,880 SF
Year Built
1970
Lot Size (sq. ft)
1,004,494 SF
Units
280

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.6504592
Longitude
-84.4845258
2900 Camp Creek Pkwy, Atlanta, Georgia

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2900 Camp Creek Pkwy
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