Island Estate Group LLC's Logo

Sold Properties

Magnolia Square Apartments

92 Units

Savannah, Georgia

Sold 4/19/19

23 Month Hold

52% ROI

Woodlawn Apartments

96 Units

Winston-Salem, NC

Sold 12/19/18

22 Month Hold

89.15% ROI

Parkway Apartments

44 Units

Charlotte, North Carolina

Sold 12/1/15

22 Month Hold

64%

Old Village Apartments

48 Unit Apartment Complex

Columbus, Ohio

Sold 4/10/17

21 Month Hold

17% ROI

Archwood Portfolio

44 Unit Apartment Complex

Cleveland, Ohio

Sold 12/28/18

49 Month Hold

30% ROI

Main Street Apartments

32 Units

Forest Park, Georgia

We closed on Main Street Apartments, a 32 Unit complex in August 2017. This is our most recent acquisition. Our management team has started the clean up and capital improvement plan. Rents will be brought up to market as units are newly leased or upon renewals. It was built in 1967 and is sits on a 2.81-acre lot 12 miles south of downtown Atlanta. Main Street Apartments offers a desirable 2 bedroom/1 bathroom garden style living space measuring 750 square feet per unit. Onsite amenities include: air conditioning and heating, playground and laundry facilities. As you can see, Main Street Apartments are a 5-minute drive from our current Pleasant Acres Apartments and 10 minutes from Willow Park Apartments. We are currently receiving market rent of $650 for a 650 sq. ft. 2 bedroom unit at a less desirable community with no amenities. We have proven the market in this area and are confidant that we can achieve the same market rents if not more at Main Street because it is a better community with nicer amenities. SMP will also manage this apartment community for us and many others in the area.

Pleasant Acres

44 Unit Apartment Complex

Atlanta, GA

Purchased in June 2015, This 44 unit apartment complex consists of all 2 BR units. Located just 12 minutes from Hartsfield-Jackson Atlanta International Airport and 12 Miles form downtown Atlanta. The property is currently 98% occupied and have again increased our leasing criteria to reduce turnover. We will continue to increase income and reduce expenses.