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Atlanta & Southeast  + Atlanta Metro  + Apartments  | 
19 Unit Chicago Apartment Building Changes Hands

Franklin Street Brokers $9M Sale of South Atlanta Apartments

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. The buyer was RW Equities, a New York-based multifamily owner and operator.

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Franklin Street’s Reid

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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