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Introduction
Harbor Creek Apartments is the nicest class-A, investment opportunity in the thriving Canton Georgia market. Located within 45 minutes of dowtown Atlanta, Cherokee County sports an average house hold income of $83,000 making it one of Atlanta's best kept secrets in addition to the fact that it is the fastest growing county and is expected to increase 91% by 2015.
Additionally there is land and development rights for 60 more units which will provide a value add component due to the county's lack of available land zoned for multi-family development in addition to rental rate increases.
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Property Profile
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Location:
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501 Harbor Creek Parkway Canton GA, 30115 Cherokee County |
| Type: |
Multi-Family |
| Year Built: |
2003/2007 |
| Number of Units: |
316 |
| Land Size: |
29.15± Acres |
| Rentable Square Feet: |
337,356± Sq. Ft. (1,068 sf/unit) |
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Summary of Improvements:
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•22 detached garages •72 units with fireplaces •146 units with vaulted ceilings |
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Financial Data
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Listing Price |
$28,500,000 |
| Current Occupancy: |
90% |
| Estimated NOI (2008): |
$1,724,921 |
| CAP |
6.05% |
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