Zevulon Capital, Inc. has purchased its second Atlanta multifamily property this year and third since this time last year. The firm acquired a 48-unit apartment complex 1120 South Ave just south of Atlanta in the Forest Park neighborhood for $2.5 million, or $52,083 per unit.
The apartment community is located near Clayton State University and the Reynolds Nature Preserve. Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport, is just minutes away at the nexus of the I-75 and I-285 highway commuter corridors.
Zevulon Capital will immediately begin a strategic repositioning of the asset with exterior and interior renovations, appliance and countertop upgrades, landscape enhancements and other improvements as it seeks to increase rents to market rates. The multifamily community will also be rebranded as Midwood Park.
“This is a vibrant community with easy access to the airport, universities and major employers, and we look forward to investing in improvements that will make it even more attractive for residents,” said Zevulon Capital Principal Yossi Kagan.
About Zevulon Capital
Zevulon Capital is a privately held, Atlanta-based real estate investment management firm that acquires and strategically transforms value-add multifamily assets across the southeast. Leveraging extensive market knowledge and industry insights, Zevulon successfully up-positions underperforming communities, creating profitability for investors and elevated living environments for residents. Visit zevcap.com to learn more.