Trinity Lofts
Closed251 Trinity Ave SW 253 Trinity Ave SW, Atlanta, GA 30303
Property type
Multifamily
Unit / Space count
14
Price
$1,325,000
Building size
21,141 sf
Rentable area
21,141 SF
Year built
1900
Year renovated
Occupancy
Zoning code
Lot size
0.16 Acres
Sold/status
Sold · Date unknown
Sale price
$1325000
Bedroom count
Property description
The Trinity Lofts are a unique investment opportunity located in Downtown Atlanta and are within walking distance to the recently completed $1.5 billion Mercedes-Benz Stadium. The immediate area has witnessed a surge in new and planned residential developments, including the $83 Million Mixed Use/Turner Field development by Georgia State University, the Castleberry Hill neighborhood and the $200 Million reinvestment in South Downtown by Newport Development. Also, the subject property is located near The Georgia Aquarium, Centennial Olympic Park, and The College Football Hall of Fame. The Trinity Lofts consist of two attached brick buildings on a +/- .16-acre lot. The 14 units are primarily residential with 3 of the bottom level units currently being occupied by retail tenants. The loft apartments capture the historic charm of the 1900’s construction while incorporating modern conveniences of intown living. The buildings feature solid construction with heavy timber framing and stone and concrete footings. The building is directly adjacent to a pay parking lot which provides the tenants and guests with off street parking. The Trinity Lofts are a tremendous opportunity for an investor looking to purchase an income producing property located in the center of several potential new developments. Downtown Atlanta has seen tremendous growth with limited housing options driving strong long-term demand. Due to the flexible commercial zoning, an entrepreneurial investor may also reposition the property in the future to increase its commercial presence as the surrounding area continues to grow.
Property highlights
- - Upside Through Increasing Rents
- - Sought-After Location
- - Excellent Unit Mix with Large Units
- - Strong Occupancy
- - Excellent Accessibility to Major Employers
- - Decreasing Stock of Vintage Apartments