Franklin Street has arranged the sale of a 1920-built multifamily property in walkable downtown Decatur, the real estate firm this week announced. Called Candler Court, the 20-unit property sold for $5.15 million, or $257,000 per unit.
Jake Reid and Chad DeFoor with Franklin Street’s Atlanta Multifamily Investment Sales Team represented the seller Samco Properties in the transaction. The buyer is Broad Street Investments.
Candler Court, at 305 E. Ponce De Leon Ave., offers two-bedroom floorplans with washer/dryer connections and select units feature balconies and sunrooms. Roughly 20 percent of the apartment interiors have been upgraded with new cabinets and granite countertops.
“Candler Court is a century-old property that has been exceptionally well maintained without losing its charm,” Reid said. “Its A+ location in one of Atlanta’s strongest rental markets will keep rental demand high long-term.”
DeFoor added, “With in-place rents well below the market average, this investment comes with significant upside potential through rent growth.”
