Belmont - Leasing Office

1940 Atlanta Rd., Symrna, GA

192 Units

Belmont Crossing is a 192-unit, 1969-vintage apartment community located in Smyrna, Georgia, a growing suburb 17 miles northeast of downtown Atlanta. The property is located within 5 miles of the interchange of Interstates 75 and 285, which is the site of the new Atlanta Braves baseball park. The area is undergoing new development and has many nearby employers. We acquired the property on September 8, 2016 for $11,075,000 ($57,682/unit).  Upon finishing the renovations, we will be able to increase rents to the current market rents which will also increase the value of the property substantially.

DETAILS

Estimated Pro-Forma Value $15,000,000
Acquisition Price: -$11,075,000
Costs: -$1,276,500
Estimated Profit: $2,648,500