Candler Court
Closed305 E Ponce De Leon Ave, Decatur, GA 30030
Property type
Multifamily
Unit / Space count
20
Price
$5,150,000
Building size
16,780 sf
Rentable area
16,780 SF
Year built
1920
Year renovated
Occupancy
Zoning code
Lot size
0.62 Acres
Sold/status
Sold · Date unknown
Sale price
$5150000
Bedroom count
Property description
CANDLER COURT is a trophy 20-unit multifamily offering within one of Atlanta’s most desirable neighborhoods. The property is located in vibrant downtown Decatur, Georgia, surrounded by over 250 restaurants, shops and retail. All of the apartments are large two bedroom floorplans with washer/dryer connections, balconies and sunrooms in select units. Roughly 20% of the apartment interiors have been upgraded with new cabinets and granite countertops. Candler Court is located within Decatur City’s school district, which typically ranks among the top 5% of public schools in Georgia.1 Along with being a destination for some of the top schools in Georgia, Candler Court’s Walk Score® is 94 out of 100, according to apartments.com. The property is near some of Atlanta’s most popular destinations, such as: Ponce City Market, Krog Street Market, and the Beltline. Candler Court is located conveniently within 300 yards of the Decatur Marta station. Additionally, the property is a short drive to Buckhead, Midtown and downtown Atlanta for premier shopping, leisure and work. Several high-density medical and biotech organizations are nearby as well, such as the Centers for Disease Control, Emory University, Emory’s Healthcare Network, Atlanta VA Medical Center, and the new $2B campus for Children’s Healthcare of Atlanta. Approximately +2.5M square feet of industrial space is located within a three mile radius of Candler Court. Some other nearby employers include Delta Airlines and UPS. The property is currently more than $250 below competing rental rates, creating an ideal scenario for the next investor to complete the property renovations and push rates to market level. Candler Court is located in one of Atlanta’s strongest renter’s markets, with an average household income of $109,336, vacancy rates of 5% for similar product type, and single-family home prices averaging $540,113. This makes Candler Court an exceptional opportunity for the next investor to purchase a property in an A+ location with high operational upside. 1 - Source: publicschoolreview.com
Property highlights
- Avg Household Income: $109,336
- Classic 1920’s architecture
- Large floor plans with balconies
- Strong operational upside
- Unmatched Decatur Square location: 250+ restaurants, retail & shops
- $250+/- upside in effective rents vs comparable market rents