Description

Opportunity to acquire Lake Shadow Condominiums, a 79-unit portfolio located in the Atlanta submarket of Gainesville, GA which is less than 5 miles from Lake Lanier. The offering includes (12) 1 bed / 1 bath, (41) 2 bed / 2 bath, and (26) 3 bed / 3 bath units. The sale will also include the club house, pool, tennis court, 30 parking garages and control of the HOA. With a strong 98% occupancy rate, the property offers affordable rent in a rapidly-growing area. Built in 2008, the property features spacious 1, 2, & 3 bedroom floor plans, garages, pool, tennis court, gym, secured keypad entry and so much more. This is a value-add property with upside potential for new owner to continue to push rents with light cosmetic improvements. The condominiums have maintained strong occupancy and collections with average rents of $0.88/SF which is below the market average of $1.28/SF. For additional information contact: Scott Spalding, CCIM Spalding@BullRealty.com 404-876-1640 x 156 Marco Welch Marco@BullRealty.com 404-876-1640 x137