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3030 Continental Colony Par...

Icer Properties Acquires Multifamily Property In Atlanta For $6.6M
SOLDMultiFamily

Icer Properties Acquires Multifamily Property In Atlanta For $6.6M

3030 Continental Colony Parkway Southwest, Atlanta, Georgia 30331, United States

$6,600,000

$146/SF

Building Size

45,000 SF

Asset Type

MultiFamily

Closing

May 31, 2022

AI

A multifamily property located at 3030 Continental Colony Pkwy. SW in Atlanta, GA has been sold for a price of $6,600,000. The property consists of 85 units and spans a total area of 45,000 square feet. The sale price equates to approximately $77,647 per unit and $146 per square foot.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $6,600,000
  • Address: 3030 Continental Colony Pkwy. SW, Atlanta, GA
  • Market: Atlanta, GA

The buyer of the property is Icer Properties, represented by Joseph Jemal. The seller is SAR Properties, represented by Abe Ballesteros. The transaction was facilitated by brokers Steven Vegh and Phil Goldstein from Westwood Realty Associates.

Players

Steven Vegh

Westwood Realty Associates

Broker

$2.5B

vol

68 deals

Broker
Joseph L. Jemal

Joseph L. Jemal

ICER Properties

Buyer

$598.7M

vol

36 deals

Buyer

Atlanta MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.40%

Cash-on-Cash

-0.69%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93