CityNorth

3421 Northlake Parkway
Atlanta GA

CityNorth View1

Property Type

Multifamily
Property Size
357 Units
Available Space
Not available
Tenure
Sale
Price
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DescriptionClick Here To View Mapped Property

Click Here To View Mapped Property

JLL is pleased to present CoHo (the “Property”), a once in a lifetime opportunity to acquire 128 fully “gutted” and extensively renovated units across a pristine, low density site in the heart of Buckhead. Featuring on site access to the Atlanta “BeltLine”, Bobby Jones Golf Course, and walkability to Atlanta’s top medical corridor, CoHo offers an exceptional intimate lifestyle in an irreplaceable infill location. CoHo is nestled between 5,000+ high-paying medical jobs and ongoing medical office development spurred by the presence of Piedmont Hospital and Shepherd Center, located steps away from the Property. Additionally, with a location just off Peachtree Road, CoHo offers a short drive to 18+ million SF of office space and 90,000+ employees in the Buckhead Central Business District as well as 32+ million SF of office space and 240,000+ jobs in Midtown, including 19,000+ new jobs announced to arrive starting in 2017. Featuring brand new interior and exterior redesign completed at the close of 2015, CoHo offers a vast competitive advantage by offering all of the location benefits of an infill Buckhead property, at a significant rental discount of over $521 to nearby Class AA communities. This gap, fortified by superior construction quality offered in concrete block and brick structures and approximately 9’ ceilings, offers rental expansion opportunities with the ability to draft off its Class AA competitors and introduce amenity enhancements to the low density site. With a host of long-term benefits to the Property including its infill location, immediate access to the BeltLine and Bobby Jones Golf Course, walkability to Atlanta’s top medical corridor, exceptional school set, and an extensively renovated property, CoHo offers a true once-in-a-lifetime opportunity to acquire a thriving community featuring all of the hallmarks of a generational asset.


Features

OFFERING HIGHLIGHTS ? Extensive Renovation just completed – Opportunity for new owner to benefit from recently completed $8.5M property overhaul Significant exterior upgrades in 2015 - New roofs, windows, and HVAC Significant interior upgrades in 2014-15 - New cabinets, flooring, appliances, and granite countertops ? Exceptional construction quality featuring concrete block & brick structures ? Immediate access to Midtown’s explosive growth – 19,000+ jobs coming in 2017 ? $78,000+ resident average household income ? Completed renovation package and new Class AA communities offer rent gap of $521 ? Extremely attractive basis to sales comps on rent multiplier ? Future Condo Conversion Opportunity – Large units, construction quality, and a low density site adjacent to neighboring $680K+ home values

Contact broker
Derrick Bloom_Commercial Real Estate Broker
Derrick Bloom

+1 404 995 2287

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David Gutting_Commercial Real Estate Broker
David Gutting

+1 404 995 2283

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