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Zevulon Capital Acquires 64-Unit Atlanta Apartment Community For $3.9 Million

Zevulon Capital, Inc. has acquired a Lancashire Court, a 64-unit, garden-style apartment community at 1055 Lancashire Circle in Stone Mountain, Georgia for $3.9 million, or $60,937 per unit. The property will undergo renovations and repositioning that includes rebranding it as Midwood Court.

“Stone Mountain is a charming community for Atlantans who want the benefits of the suburbs with seamless commutes to in-town neighborhoods and employment centers,” said Zevulon Capital Principal Yossi Kagan. 

Tenants appreciate the quiet residential neighborhood located just far enough to enjoy the suburban area in Stone Mountain with easy connectivity to Interstate 285, providing quick and easy access to all of Atlanta’s major attractions. The asset is strategically positioned near many major retail locations, as well as Stone Mountain Park, Pine Lake, Wade-Walker Park, Georgia University Perimeter College, and Georgia Piedmont Technical College.

The well-leased property was 95% occupied at the time of sale and has been well-maintained by previous ownership. The community offers spacious 1-and 2-bedroom units, a pool and tennis court, and plenty of parking.

“Lancashire Court offers investors realizable value-add potential,” said Kagan. “The property’s in-place average rents are below market based on current rents and submarket comps. Our repositioning plan will capture the current loss-to-lease and support rent premiums on renovated units.”

Property improvements will include modernizing exteriors and common areas, interior upgrades such as cabinetry and stainless-steel appliances, bathroom renovations, new flooring, landscape enhancements, and patio furniture around the pool area. The complex will be rebranded Midwood Court under Zevulon’s Midwood community brand.

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.