“Chelsea Gardens is well-located in the airport submarket where capital investments are accelerating,” said McGaughy. “BHP invested nearly $5 million to update exteriors and approximately half of the interiors, giving the buyer a prime opportunity to purchase a sizable value-add asset with a proven track record. The property’s value is poised to significantly increase upon completion of the capital improvements program when units begin achieving or exceeding market rents.”

Offering a mix of one-, two- and three-bedroom apartments and two-bedroom townhomes, Chelsea Gardens is a neighborhood apartment community benefitting from its South Atlanta address, direct access to Interstate 285, and proximity to numerous neighborhood amenities.

The property is surrounded by major employment hubs, including Hartsfield-Jackson Atlanta International Airport and Delta Air Lines, two of the state’s largest economic drivers. As these businesses resume hiring, Chelsea Gardens is well-positioned to attract tenants that want to live in dynamic areas close to their employers.