Exited - Single-Family
During the turbulent economic environment of the 80s, EpiCity recognized the opportunity to acquire this portfolio of troubled assets from the lender. The houses were simple, small, and inexpensive, built for the Fulton Cotton Mill operating in the Grant Park area. EpiCity purchased approximately a dozen homes for about $4000 each and invested another $4 to $5000 each in improvements. Section 8 assistance at the time provided $850 per month per house. Gradually, the neighborhood started to improve and, after the Olympic boom, EpiCity was ready to take advantage of the advantageous market. The sale earned an enormous profit and, through an exchange, the funds were reinvested in Rosemary Beach, Florida.
Property Address: 1034 Grant Terrace Southeast, Atlanta, GA 30315
- CoStar Submarket: Downtown Atlanta
- Units: 9