Decatur, GA — Broad Street Investments has purchased the 20-unit Candler Court apartment community in Decatur for $5.15 million, according to a press release.

The purchase price works out to $257,000 per unit. Jake Reid and Chad DeFoor with the Franklin Street real estate company represented the seller, Samco Properties. The property was built in the 1920s.

“At 305 E. Ponce De Leon Ave., Candler Court is surrounded by over 250 restaurants, shops and retail options along with some of Atlanta’s most popular destinations, such as Ponce City Market, Krog Street Market and the Beltline,” a press release from Franklin Street says. “It is also convenient to the Decatur Marta station and is within one of Georgia’s top school districts.”

The apartments have two-bedroom floor plans with washer and dryer connections. Some units have balconies and sun rooms, the press release says.

“Candler Court is a century-old property that has been exceptionally well maintained without losing its charm,” Jake Reid with Franklin Properties said in the press release. “Its A+ location in one of Atlanta’s strongest rental markets will keep rental demand high long-term.”

Chad DeFoor added, “With in-place rents well below the market average, this investment comes with significant upside potential through rent growth.”

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