2900 Camp Creek PkwyAtlanta, GA 30337

Property Details for 2900 Camp Creek Pkwy

Year built

1970

Construction

WOOD

Lot size

23.06 AC

Property size (Sq ft)

25,760 SF

Zone code

C1

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

14 0224 LL0481

APU

140224LL0481

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $4,062,882

  6.5%

  $3,750,352

  7%

  $3,482,470

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,788,356

  Geo Method

  $7,788,356

• Alternative Use

  Use

  Valuation

  Residential

  $3,750,352

  Hospitality

  $3,435,302

  Educational

  $2,858,131

  Medical

  $2,956,427

  Retail

  $4,445,982

Location Insight

City

College Park

County

Fulton

State

Georgia

Latitude

33.6504

Longitude

-84.4844

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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