Is forest park GA worth a look??

16 Replies

Is this Atlanta suburb worth investing in?? I have found an apartment complex with some upside but I'm not from the area. I tend to target SAFE blue collar markets, but data on Forest Park seems mixed. Any insight would be appreciated.

Hey @Jason A. , I actually like Forest Park a lot. There are large pockets of well-maintained, working class subdivisions. The proximity to Hartsfield Jackson and the planned Aerotropolis projects make it worth looking at in my opinion. I see three apartment building listed there now, not sure which one you're looking at specifically.

@Jason A. Forest Park is like the majority of suburbs on the south side of Atlanta. Properties can vary greatly depending on location and it can change block by block. If you're from out of state I'd definitely recommend a trip down to see the area for yourself. Good thing is, Forest Park is right by the airport! 

I work in Forest Park, so yes, there are some decent neighborhoods. If you provide the location, I’ll give you an honest opinion. I work near downtown Forest Park. 

@Jason A. my screening process for a neighborhood is fairly comprehensive but eliminates some of these questions.

The process I typically follow starts with looking at US Census - block level population data, specifically population growth and median income. I look for positive population growth and median income over 35k. Next I use the city-data.com crime section and check to see if criminal activity is comparable to US averages, if higher, I like to see a downward trend over the past few years. I also look at Trulia Crime Maps and make sure that this neighborhood does not have a lot of criminal activity, specifically violent crime. If the neighborhood has a name, I typically type in on google "'specific neighborhood' news" and search for articles written in the past year. This typically gives me a good idea of what the neighborhood is like whether it is in the same metro as me (in Forest Park) or in another state.

If you'd like a little more information on my process, please reach out - Id be happy to help.

Thanks for the feedback everybody. After doing some research it seems that, just like many areas, Forest Park has it's bad elements. They're specifically on Hill and College St. I'm pretty sure the buildings that I am looking at currently house these bad elements. They are likely heavy rehabs with a non-paying tenant base (per the rent roll). They're 30 units priced at about$70k/unit (my offer would be much less). It's still an intriguing deal because new construction appears to be occurring nearby. I realize that SE Atlanta is where the lower rents are found, but with the Fort Gillem project and Airport project I thought maybe SE Atlanta may become more attractive. 

Jason, I know we talk about out of state investing a lot on BP. While possible, Please keep in mind an older complex in a C- area of metro Atlanta is assuming a lot of risk. You’ll have many issues. With these challenges also comes opportunities, but you’ll still need to develop a risk mitigation strategy. Let me know if I can help at all. 

@Jason A. I have seen these both for last couple of years. I turned away from it in 2018 when it was on sale. I’m just not sure why current owner is selling it for less than what he purchased it for in 2018. I didn’t like the area and the property when I drove by, specially when looked on by people gathered at the corners ;) just didn’t feel safe.

@Al Pat From the looks of the rent roll the property is totally mismanaged. Half of the tenants are behind in rent (and those are just the ones that he admitted to). I can see from google earth that the roofs are patched in multiple places and the places look run down. I was hoping it was an area where good tenants could be attracted once value was added, but it sounds like this may not necessarily be the case. It's probably too heavy of a lift for me to perform remotely. Thanks for the input. 

This sounds like something that could turn around with something similar to what I did in the Atlanta Pittsburgh community. I renovated 12 units, started totally fresh, without tenants. Then I advertised it as a creative community , only creative people could live there. Everybody has to have some kind of creative dream that they're working on (while they usually have a day job that pays the bills). Creatives came from all over Atlanta, because they loved the idea of living in close vicinity to other creatives. I don't ever have a problem filling a vacancy, because it's so unique. Tenants are quirky and I have the occasional eviction, but it's nothing like the type of tenants I had in the neighborhood before. 

FYI a lot of crime statistics around airports are skewed . Take College Park and East Point: On paper they are some of the most crime riddled neighborhoods. Property crime is through the roof. BUT, those neighborhoods are full of hotels, that double or triple or quadruple the number of people in the city, but they aren't counted as residents. Most of the counted crime consists of  car break-ins at those hotels. So, then the crime statistic percentages are based on the full-time residents, not counting visitors, and it throws everything off.