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Harbor Creek Apartments   


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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.

 

Property Profile

Location:

 

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)

Summary of Improvements:

 

•22 detached garages
•72 units with fireplaces
•146 units with vaulted ceilings

 

Financial Data

Listing Price

$28,500,000

Current Occupancy: 90%
Estimated NOI (2008):    $1,724,921
CAP  6.05% 

 

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