For Sale
$2,853,000

170 Mitchell StAtlanta, GA 30303

857 Units, 6.5% Cap Rate, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
113
This exceptional investment opportunity presents a portfolio of preferred equity in a stabilized, cash-flowing multifamily portfolio. The offering totals $2,853,000 and boasts a projected 6.5% cap rate. The portfolio comprises 857 units across ten buildings, each three stories high, totaling 857 units. Constructed between 1956 and 2020, with renovations completed in 2021, these properties are well-maintained and currently enjoy a 98% occupancy rate as of May 1, 2024. The portfolio is classified as Class C and is zoned for multifamily use. The investment structure is preferred equity, senior to common equity and junior to a first mortgage. All investments are secured by personal guarantees from the deal sponsor, and an unrestricted power of attorney to sell the asset after sixty days is in place. Three of the eight notes are fully amortizing, while the remaining five amortize at rates between 25% and 75%. Remaining terms range from 41 to 55 months. The portfolio includes seven multifamily properties and one manufactured housing property, with five considered Naturally Occurring Affordable Housing (80% AMI) and three located in Section 8 markets. These properties are located across five states: Georgia, Minnesota, Indiana, Michigan, and Washington, D.C. The specific addresses will be provided during the due diligence process. Monthly distributions to investors commence immediately. Minimum investment is $250,000.

Highlights

  • $2,853,000 asking price for a preferred equity investment in a stabilized multifamily portfolio.
  • 15% projected annual return on investment.
  • Monthly distributions to investors commence immediately.
  • Portfolio consists of 8 preferred equity investments in multifamily and manufactured housing properties across five states, including naturally occurring affordable housing (80% AMI) and Section 8 units.
  • The preferred equity positions are senior to common equity and junior to first mortgages, with personal guarantees and unrestricted power of attorney to sell after 60 days.
  • Minimum investment is $250,000.

Property Details for 170 Mitchell St

Property type
Apartment buildings
Class
C
Year Built/Renovated
1956/2021
Buildings
10
Stories
3
Units
857

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.7509399
Longitude
-84.3935032
170 Mitchell St, Atlanta, Georgia

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170 Mitchell St
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