Chestnut Lane Apartments — Sale in Newnan, GA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Newnan, GA 30263

Investment Figures

Cap rate
6.57%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present Chestnut Lane Apartments, a compelling acquisition opportunity offered at an attractive cap rate. With the expiration of the USDA Rural Development (RD) affordability restrictions, the Property has transitioned to market-rate operations. Existing in-place tenants are receiving RD-issued tenant-based vouchers to offset the increase from restricted rents to market rents. These vouchers are assigned to the tenant—not the Property—and provide a temporary income bridge as units naturally turn over and are re-leased at market rates. Well positioned within a quiet residential neighborhood, the asset benefits from its desirable setting and steady rental demand. Newnan, GA continues to experience rapid growth as a sought-after Atlanta submarket, with the population projected to increase approximately 2.3% over the next several years. Investment Highlights: • Fully stabilized, recently updated to market rents • High occupancy, now offering market rate rents from affordable • Well located in downtown Newnan, GA • Newnan population growth projected to increase 2.3% in next 4 years • Very small amount of apartment units under construction or set to deliver in the near future

Market Context

This multifamily in Newnan, GA is listed for sale. It is offered at an approximate 6.6% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 100 days. Compare it against other multifamily listings for sale in Newnan, GA — view the full market.

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