Franklin Street has arranged the $8.6 million sale of Central Park Apartments, a value-add, workforce housing community in Riverdale, GA.
The 90-unit property traded for $95,500 per unit, a record for 1970s-built multifamily product in Clayton County, according to Franklin Street. At the time of sale, the property was 100% occupied. Residences range from efficient 600-square-foot one-bedroom, one-bathroom apartments to spacious 1,350-square-foot, two-bedroom, 1.5-bathroom townhome-style units. All two-bedroom units have washer and dryer hook ups as well as balconies or covered porches. The community is located at 582-614 Roberts Drive.
Jake Reid and Chad DeFoor of Franklin Street’s Atlanta Multifamily Investment Sales Team, represented the seller, Texas-based Disrupt Equity, in the transaction.