1000 Belmont Park Drive Southeast, Smyrna, GA, 30080, US

1000 Belmont

Asset description

JLL, as exclusive advisor, is pleased to present for sale 1000 Belmont (the “Property”) a 72-home, core plus investment opportunity located in Smyrna, Georgia. The Property consists of 1- and 2-bedroom apartment homes that have been upgraded to include new stainless-steel appliances, quartz countertops, shaker cabinet fronts, vinyl flooring, new doors, ceiling fans, window treatments, upgraded bathroom mirrors, vanities, and lighting, and washers/dryers (in select units).

Built in 1972, 1000 Belmont offers investors the opportunity to acquire a well-operated community that offers stable cash-on-cash returns at an attractive basis with minimal deferred maintenance. The Property’s current rent levels and in-place NOI ideally position 1000 Belmont for an Agency financing execution.

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Attributes

Year built

1972

Units

Building area net

72,800 sf

Land area gross

4.12 acres

Occupancy

92%

Media

Investment highlights

Core+ Asset with Room for Future Upside

1000 Belmont recently underwent a comprehensive renovation scope. Subsequent ownership can install W/D hookups in 1-bedroom units to further drive rental value.

Well Maintained Asset That Offers Strong Cash-On-Cash

Ownership has invested ±$1MM into the property in the last 3 years and taken care of many outstanding deferred maintenance projects.

Rarity of the Offering

With only 1 trade in Smyrna in 2024, 1000 Belmont presents a unique opportunity to invest in a highly desirable submarket of Atlanta.

Proximity to Retail, Entertainment, and Recreation

1000 Belmont is within 10 minutes of The Battery, home to the Atlanta Braves, The Shops at Belmont, a ±48-acre mixed-use development, Cumberland Mall, a ±900K SF shopping mall, and the Cobb Galleria Centre, a ±320K SF performing arts center.

Access to Major Employers

As one of the largest office markets in Atlanta, Cobb County offers a plethora of employment opportunities. Notable tenants include Papa John’s, TK Elevator, The Home Depot, Genuine Parts, and HD Supply, RaceTrac, and Comcast.