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
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