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OFFERING MEMORANDUM 5-UNIT MULTIFAMILY OPPORTUNITY IN PONCEY-HIGHLAND
OFFERING MEMORANDUM5-UNIT MULTIFAMILY OPPORTUNITY IN PONCEY-HIGHLAND
http://www.BullRealty.com/
3PROPERTY INFORMATION4EXECUTIVE SUMMARY5PROPERTY INFORMATION6PHOTOS
10AREA OVERVIEW11ABOUT THE AREA12AREA MAP13AREA DEVELOPMENTS14ATLANTA15ATLANTA TOP EMPLOYERS
16CONTACT INFORMATION17BROKER PROFILES18CONFIDENTIALITY AGREEMENT19DISCLAIMER
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T A B L E O F C O N T E N T S
Bull RBull Realtyealty, Inc., Inc.50 Glenlak50 Glenlake Pe Parkwarkwaayy, Suit, Suite 600e 600AAtlantlantta, GA 30328a, GA 30328BullRBullRealtyealty.c.comom
Andy LundsberAndy LundsberggPPartnerartner, Bull R, Bull RealtyealtyALundsberALundsberg@[email protected] x107404-876-1640 x107
Michael WMichael Wess, CCIMess, CCIMPPartnerartner, Bull R, Bull RealtyealtyMWMWess@[email protected] x150404-876-1640 x150
Exclusively listed by Bull Realty, Inc.
tel:404-876-1640 x107tel:404-876-1640 x150http://www.BullRealty.com/
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P RP R O P E RO P E R T Y I N FT Y I N F O R M AO R M AT I O NT I O N
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KEY FIGUREKEY FIGURESS
5-UnitMultifamily Opportunity
Prime location near Ponce City Market& The Atlanta BeltLine
100% Occupancy in aHot Rental Market
Available for Sale for$1,195,000
P RP RO P E RO P E RT Y H I G H L I G H TT Y H I G H L I G H TSS• 5-unit multifamily opportunity in the heart of Poncey-Highland
• Excellent location near Ponce City Market and The Atlanta BeltLine
• Spacious units with hardwood floors and in-unit laundry
• Large backyard with open green space
• 100% occupancy with a gross income of $95,160
• 1 mile to Fourth Ward Park and Gateway Trail to heart of Atlanta BeltLine Eastside Trail
• Within 2 miles of Piedmont Park, Inman Park, Midtown, Virginia-Highland, GA Tech, Little Five Points andDowntown Atlanta
N EN EA R BA R BY A M E N I T I EY A M E N I T I ESS
E X E C U T I V E S U M M A R Y
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BUILDINGBUILDING
Property Address: 664 Linwood Ave NE, Atlanta, GA 30306
County: Fulton
Number of Buildings: 1
Total Building Size: 4,794 SF
Number of Stories: 3
Number of Units: 5
Unit Mix: (2) Large 3 Bedroom / 2 Bathroom
(1) Large 2 Bedroom / 1 Bathroom
(1) 1 Bedroom / 1 Bathroom
(1) Studio
SITESITE
Site Size: 0.21 Acres
Parcel ID: 14 001600100142
Zoning: SPI-6, SA1 Beltline Overlay
Parking: Driveway and Street
CCONSONSTRUCTRUCTIONTION
HVAC: Central Air
Washer/Dryer: In-Unit
Metered: 3 Electric and 3 Gas
The two 3-bedroom units have their own meters.The other 3 units (2-bed, 1-bed and studio) share meters.
Tenants reimburse for all utilities at 100%
FINANCIALFINANCIAL
Occupancy: 100%
Gross Income: $95,160
Price/Unit: $239,000
Sale Price: $1,195,000
P R O P E R T Y I N F O R M A T I O N
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E X T E R I O R P H O T O S
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I N T E R I O R P H O T O S
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I N T E R I O R P H O T O S
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I N T E R I O R P H O T O S
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A R EA R E A OA O V E RV E R V I E WV I E W
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* Source: https://poncecitymarket.com/
P O N C E C I T Y M A R K E TP O N C E C I T Y M A R K E TPonce City Market breathes new life into the historic Sears, Roebuck & Co. building in Atlanta. The classicstructure, which is the area’s largest adaptive reuse project, has been reinvented as a vibrant communityhub housing the Central Food Hall, various shops, flats and offices, all while pointing back to the roots of itsinception. The market infuses vigor and excitement into this historically-significant structure, located inone of Atlanta’s most cherished neighborhoods.
P O N C E YP O N C E Y- H I G H L A N D- H I G H L A N DNamed for the intersection of Ponce de Leon Avenue and North Highland Avenue, Poncey-Highland (PoHi)is a vibrant intown neighborhood on the east side of Atlanta, Georgia located two miles northeast ofdowntown. Its 18 streets are bound by the BeltLine, Ponce, East Freedom Parkway, and Moreland Avenue.
Poncey-Highland celebrates the unique history, diversity and connectivity which binds the neighborhood tothe City of Atlanta. Freedom Park runs through the center of this close-knit community, and its westernborder of The BeltLine at Ponce City Market give cyclists and pedestrians the freedom to explore the citywhile also connecting them to Old Fourth Ward, Inman Park, Little Five Points, Virginia-Highland, Midtown,Candler Park and beyond.
DEMOGRAPHICS
1 Mile1 Mile 24,85724,857
3 Miles 151,599
5 Miles 343,884POPULATION
1 Mile1 Mile 14,46714,467
3 Miles 70,874
5 Miles 152,148HOUSEHOLDS
1 Mile1 Mile $82,841$82,841
3 Miles $91,451
5 Miles $83,423AVG. HH INCOME
A B O U T T H E A R E A
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A R E A M A P
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S O U T H E R N DS O U T H E R N DA I R I EA I R I ESSIn 1935, Southern Dairies, Inc., an ice cream and dairy manufacturer, was the firstoccupant at the North Avenue property and is the key contributor to the historiccloth of the building. Today, Southern Dairies is a five-building, creative officeconversion of the historic distribution plant. The property’s size and uniquearchitectural features offer a boutique office campus feel in a location proximateto the Atlanta BeltLine, with the same amenities as Ponce City Market.
N ON OV E L 0 4 W A PV E L 0 4 W A PA RA RT M E N TT M E N TSSNOVEL O4W is a mixed-use development that features 233 apartments atop morethan 10,000 SF of retail space. The development is less than 2 years old and hashelped breathe new life in the immediate area. The site offers the best of cityliving with top-of-the-line amenities including a yoga studio, dog park, workinglounge, saltwater pool, and a restaurant on-site.
T H E V I E WT H E V I E WS AS AT O 4 WT O 4 WOpened in 2017, “Views at O4W” contains 27 swank town home units with modernlines and rooftop decks promising Midtown and downtown vistas. And privatebackyards for frolicking pets.
Sizes range between 1,790 and 1,862 SF with up to three bedrooms (or twobedrooms plus a flex space). Prices will start in the low $600,000s, according todeveloper Foyer Urban, a local homebuilder “dedicated to building exceptionalproduct in desirable locations,” per marketing materials.
Southern Dairies
Novel 04W Apartments
The Views at O4W
A R E A D E V E L O P M E N T S
B U S I N EB U S I N ES SS S- F R I E N D L- F R I E N D LY C I T YY C I T YAtlanta, the capital and most populous city in Georgia, is the ninth-largest metro in the United States withover 5.9 million residents. It prides itself on its low business costs, tax-friendly environment, diverseeconomy and suburb quality of life. Encompassing a GDP over $270 billion, the Atlanta metropolitan areais a true “world city.”
H O M E TH O M E TO FO FO RO RT U N E 5 0 0 CT U N E 5 0 0 CO M PO M PA N I EA N I ESSAtlanta has the third-highest concentration of Fortune 500 headquarters in the U.S., and over 75% of theFortune 1000 conduct business in the Atlanta Metropolitan Area. The city is the global headquarters ofcorporations such as The Coca-Cola Company, The Home Depot, Delta Air Lines, AT&T Mobility, UPS andNewell-Rubbermaid.
CCO N T I N U O U S EO N T I N U O U S ECCO N O M I C D E V E LO N O M I C D E V E LO P M E N TO P M E N TThe city’s continuous growth is expected to continue with recently executed or announced corporaterelocations such as UPS, Mercedes-Benz, NCR, Honeywell, and General Electric. Atlanta has also become amega center for movie production due to tax credits implemented in 2008.
WWO R L D - C L A S S E D U C AO R L D - C L A S S E D U C AT I O NT I O NAtlanta houses several of the top higher education institutions in the United States including GeorgiaInstitute of Technology, Emory University, Georgia State University and Kennesaw State University.
AATTT R AT R ACCT I O N S A N D TT I O N S A N D TO U R I S MO U R I S MAttractions in Atlanta include the largest aquarium in the western hemisphere, the CNN Center, the FoxTheater, the King Center and the new $1.5 billion home of the Atlanta Falcons football franchise,Mercedes-Benz Stadium. Hartsfield-Jackson Atlanta International Airport is the world’s busiest airport,making the city a hub for business and tourism travelers alike.
#1 Most-Traveled Airport inthe World
$270 Billion GDP inMetro-Atlanta
17 Fortune 500 HQ inAtlanta
Georgia Tech’s Technology Square isa R&D incubator for over 100companies and is “one of the
incubators changing the world.”-Forbes 2010 & 2013
#4 Metro Area for Largest Increase inPopulation, 2015-2016 -U.S. CensusBureau Population Division
Top U.S. Metro with #1 LowestCost of Doing Business
A T L A N T A
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TOP EMPLOYERS
EDUCATION MAJOR ATTRACTIONS
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A T L A N T A T O P E M P L O Y E R S
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CC O N TO N TAA CC T I N FT I N F O R M AO R M AT I O NT I O N
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P RP RO F EO F ES S I O N A L BS S I O N A L BAAC KC KG RG RO U N DO U N DAndy Lundsberg has over 20 years of sales, marketing and commercial real estate experience. He specializes in the acquisition anddisposition of multifamily and boutique retail/office type properties throughout metro-Atlanta. Andy Lundsberg is recognized as the topproducer at Bull Realty for the last 6 years in a row with gross sales close to $200 million over the last three years, and has consistentlyachieved the Atlanta Commercial Board of Realtors Million Dollar Club designation year after year.
Prior to his career in commercial real estate, Andy worked for a national diagnostic imaging company as director of sales and marketing,Coca Cola as a business development manager and was head of on-site sales and marketing for a condominium project with a largeresidential real estate firm in Atlanta. With his expertise in the real estate industry and successful sales record, he can help youdetermine the right investment for you; whether you are looking to buy, lease or sell commercial real estate.
Andy graduated with honors from The Kelley School of Business at Indiana University where he received degrees in Marketing,Management and International Studies. He also studied and lived in Seville, Spain and is conversational in Spanish.
Organizations:National Association of Realtors-GeorgiaAtlanta Commercial Board of RealtorsYoung Council of Realtors (YCR)Million Dollar Club (2008 - Present)
A N DA N D Y LY L U N D S B E RU N D S B E R GGPPartnerartner, Bull R, Bull Realtyealty404-876-1640 [email protected]
P RP RO F EO F ES S I O N A L BS S I O N A L BAAC KC KG RG RO U N DO U N DMichael Wess’ passion for the consultation and sale of commercial real estate began during his undergraduate studies at the Universityof Georgia. He earned a 4.0 GPA at the Terry College of Business’s real estate program, consistently ranked in the top five nationally. Whilethere, Michael also received two other degrees in finance and international business and a minor in Spanish while participating on UGA’srugby team and various philanthropic organizations.
Michael joined Bull Realty in 2016 and began building his brokerage practice based on integrity, superior client service, and exceptionalresults. In 2018 alone, Michael closed 23 transactions valued at over $25,000,000, which landed him #3 of 32 brokers at the firm. In 2019,Michael Wess and Andy Lundsberg teamed up and sold over $65 million through 34 transactions.
Michael continuously attends seminars, conferences, and classes to improve his knowledge of real estate, finance, and economics. He is apinned designee of the prestigious Certified Commercial Investment Member (CCIM) Institute, commercial real estate’s global standard forprofessional achievement and is an active member of the Atlanta Commercial Board of Realtors (ACBR).
Michael is also a ‘big brother’ in the Big Brothers Big Sisters organization. He enjoys spending time with family and friends exploring theneighborhoods in and around Atlanta.
M I C H A E L W EM I C H A E L W E S S , C C I MS S , C C I MPPartnerartner, Bull R, Bull Realtyealty404-876-1640 [email protected]
B R O K E R P R O F I L E S
tel:404-876-1640 x107tel:404-876-1640 x150https://www.facebook.com/Bull-Realty-Inc-420137434674657https://twitter.com/bullrealtyhttps://www.linkedin.com/company/bull-realtyhttps://www.youtube.com/user/BullRealty
Andy Lundsberg404-876-1640 [email protected]
Michael Wess, CCIM404-876-1640 [email protected]
Bull Realty, Inc.50 Glenlake Parkway, Suite 600Atlanta, GA 30328
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersignedparty (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker BullRealty Incorporated (“Broker”). Now therefore in consideration of the privileges granted to Receiving Partywith respect to receiving certain confidential information, and other good and valuable consideration, theReceiving Party hereby agrees to the following:
I. Confidential Information:Receiving Party will receive confidential information regarding property referred to as 664664 LinLinwwoodood AAvvee NENEAAtlantlantta,a, GAGA 3030630306. Prospect agrees to not disclose to any person that the property may be available for saleor lease, or that discussions or negotiations are taking place concerning the property, nor any terms,conditions, or other facts with respect to the property, including but not limited to tenant information, leaserates, lease expirations, income and expenses, and any such possible purchase, including the status thereof.The term “person” used in this agreement shall be interpreted broadly and shall include, without limitation,any corporation, company, partnership or individual other than parties to which Broker approves in writing.Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel,lending sources, accountants or representatives of Receiving Party that Receiving Party notifies of therequirements of this Agreement. Receiving Party agrees to not contact the property owner, themanagement, the tenants, the lender, the vendors, the insurers, the employees or the customers of anybusiness at the site.
II. Acting as a Principal:Receiving Party hereby warrants that it is acting as a principal only, and not as a broker, regarding thiscontemplated transaction. Receiving Party acknowledges that Broker is working an agency capacity asrepresenting the Seller only in this transaction and is the only Broker involved in this potential transaction.Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole orin part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in anyother manner acquire an investment in, joint venture or control of the property, unless Bull Realty,Incorporated is paid a commission at closing as per separate agreement with Seller.
This agreement will expire two years from the date hereof.
III. Governing LawThis Agreement shall be governed and construed in accordance with the laws of the State of Georgia.
If you are a broker, or a principal desiring to include an outside broker, contact the listing agent directly for aBuyer and Buyer’s Broker Confidentiality & Commission Agreement.
Accepted and agreed to __ / __ / __
Receiving Party
Signature
Printed Name
Title
Company Name
Address
Phone
Fax
SIGN CONFIDENTIALITYAGREEMENT ONLINE
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C O N F I D E N T I A L I T Y A G R E E M E N T
https://www.bullrealty.com/vault/accounts/accounts/login??utm_source=om%20ca%20button&utm_medium=offering%20memorandum&utm_campaign=664%20linwood%20ave%20ne%20&utm_content=buttonhttps://www.bullrealty.com/vault/accounts/accounts/login??utm_source=om%20ca%20button&utm_medium=offering%20memorandum&utm_campaign=664%20linwood%20ave%20ne%20&utm_content=button
D I S C L A I M E R
Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.
This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information thata prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to thegeneral economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financialprojections, as they are illustrative only. An opportunity to inspect the Property will be made available to qualified prospective purchasers.
In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accuratedescriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently alldocuments.
This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation,endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its owninvestigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party atany time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offeron the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditionsto the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves the right to move forward with an acceptable offer prior to the call foroffers deadline.
This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this Offering Memorandum, theparty in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held andtreated in the strictest confidence. No portion of this Offering Memorandum may be copied or otherwise reproduced or disclosed to anyone without the prior writtenauthorization of Bull Realty, Inc. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and otherinformation provided in connection therewith.
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2020 Bull Realty, Inc. All rights reserved. Information contained herein may have been provided by the seller, landlord or other outside sources. While deemedreliable, it may be estimated, projected, limited in scope and is subject to change or inaccuracies. Pertinent information should be independently confirmed prior to
lease or purchase offer or within an applicable due diligence period.
Please do not visit site without an appointment.Please do not disturb management or tenants.
ANDY LUNDSBERG MICHAEL WESS, CCIMPartner, Bull Realty Partner, Bull Realty
[email protected] [email protected] x107 404-876-1640 x150
mailto:[email protected]:[email protected]
