“Chelsea Gardens offers investors significant upside,” said McGaughy. “With nearly $5 million already invested in exteriors and approximately half of the interiors, new owners have an opportunity to substantially raise rents and increase occupancy through additional interior and amenity enhancements.”
Chelsea Gardens includes a mix of one-, two- and three-bedroom apartments and two-bedroom townhomes. Nearly half of the 472 units have been upgraded with new appliances, cabinets, countertops, flooring and lighting. The property benefits from its location near Hartsfield-Jackson Atlanta International Airport and Delta Air Lines, two of the state’s largest employers.
“With immediate access to Interstate 285, Chelsea Gardens is poised to take advantage of the uptick in traffic and hiring at both the airport and surrounding businesses, post-pandemic,” said McGaughy.