Realtor · Atlanta, GA · Member since 2020 · 42 posts · 19 votes
I have recently moved to the Atlanta area and am thinking about purchasing a small multifamily rental property. Which areas do you think are currently being developed or are soon going to develop. I am not too familiar with the micro neighborhoods and am trying to get an understanding of what has been happening in the Atlanta metro area for the past 10-15 years. Any striking trends or shifts that you have been noticing?
Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
6y
@Account Closed Where to begin to answer this......If you are in the area, drive around will help you a lot on narrowing down areas. Different people have different investment criteria and budget so the recommendation will vary depend on that. I personally like Cobb County, Cherokee County. Fit my budget for long term hold. If I want to do short term, I will look into downtown. If I have higher budget my target area will change. I subscribe to Curbed Atlanta, they will send you some market tread and development news periodically that I find interesting and some entertaining.
Realtor · Atlanta · Member since 2018 · 126 posts · 81 votes
6y
Hey @Account Closed,
You're talking about a pretty large area. Care to specify? There is very little multifamily inventory so you may find the inventory dictates the location, not the other way around.
Rental Property Investor · Woodstock, GA · Member since 2017 · 517 posts · 772 votes
6y
It's very hot right now all around N.ATL. (including Cobb and Cherokee as Jingru mentioned).
If you want a good multi-family, you'll need to look offmarket 100%. (I know, because I'm looking).
As Marc mentioned, inventory is incredibly low especially in multi-family. That's why I'm starting to strech where I'm looking outside of the hot zones looking for emerging markets. (looking at Cartersville right now).
Realtor · Atlanta, GA · Member since 2020 · 42 posts · 19 votes
6y
@Jingru Sui Yes, I realize this is a very broad question. I live around the Ashford/Dunwoody area right off of 285 and have definitely seen a lot of changes recently in both the commercial and real estate sectors. I am mainly interested in long term buy and hold and primarily looking at DeKalb and Gwinnett counties at the moment. Downtown is something that I am not considering at this time as its definitely more expensive.
Realtor · Atlanta, GA · Member since 2020 · 42 posts · 19 votes
6y
@Marc Brenner Yes, I have noticed that there is very little multi-family on the market, especially small multi-family. I was mainly considering DeKalb and Gwinnett at this time but might need to start expanding my search area for sure and even tying to find things off market.
Real Estate Agent · Atlanta, GA · Member since 2014 · 683 posts · 317 votes
6y
Originally posted by @Account Closed:
@Jingru Sui Yes, I realize this is a very broad question. I live around the Ashford/Dunwoody area right off of 285 and have definitely seen a lot of changes recently in both the commercial and real estate sectors. I am mainly interested in long term buy and hold and primarily looking at DeKalb and Gwinnett counties at the moment. Downtown is something that I am not considering at this time as its definitely more expensive.
I live on Ashford Dunwoody when I first move to Atlanta as well. in a apartment called the loft.... anyway. Depending on your price range you might be able to find small multifamily on market near Norcross. but the yare definably pricy! Agree with Joe. you might want to connect with wholesaler and see what they can bring... Dekalb and Gwinnett might be pricy too and hard to find..