88 Unit Apartment Complex on 6.5± Acres in College Park, GA (Fulton County)
Sixteen 1BR and seventy-two 2BR units in twenty-two 2 story buildings plus leasing office on 6.5 acres, 144 parking spaces, 18 down units due to former borrower planned renovation.
Auction Location
Sold for $786,500
REO Asset Auction
88 Units on 6.5± Acres
Vesta Gardens Apartments, 4590 Washington Road
College Park (Fulton County), Georgia 30349
ONSITE AUCTION: Thursday, January 28th, 2010 at 11 AM
OR BID ONLINE AT www.auctionEbid.com
INSPECTION: Monday, January 25th, 2009 at 10 AM- 2 PM or By Appointment
Built ca. 1970 and zoned "A" Medium Density Apartments, the garden-style apartment asset includes 22 two-story buildings, a single level leasing office with Victory Garden, and 144+- parking spaces. There are 18 down units (seventeen 2BR and one 1 BR) which were stripped down in anticipation of renovation. Units are individually metered for electric, with common gas and water. It is Parcel Number 13-0034-LL-095-4
# Type SF
16 1 BR/ 1 BA 880
72 2 BR/ 1 BA 1050
88 Total 89,680 SF
Terms: Proof of Required Earnest Money Downpayment Funds required to bid , 10% Buyers Premium added to winning bid to determine sale price, 10% Earnest Money Deposit payable immediately after the auction, close no later than Thursday, February 25th, 2010.
Escrow and Closing Agent: First American Title, attn Carol Perry. Closing agent fees split between Buyer and Seller.
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Broker Co-Op: 2% Commission Paid to Properly Registered Brokers, see BROKER PARTICIPATION section in website terms for details
Questions? Contact Jeb Howell, 770-841-9924, at jeb@auctionEbid.com
Julian E Howell, GAL #2503
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