As a Resi: I can attest Great Management.. The Umbrella Property Association well respected.
Easy access in and out *Traffic Lights* right at exit to gain access to Peachtree.
Walking distance to 5 of 6 "Buckhead Life Group" restaurants.
Plus social activities provided by MGMT. For Christmas, have rented out Seasons 52, open Bar, Jazz, etc. Absolutely ZERO problems with noise, etc. If you are not an animal person. ZERO problems with Dogs, etc. (have the freight elevator they must take).
I have experienced zero problems (very well manufactured homes)-. ie. not an apartment/condo conversion. Thus my largest power bill has been about $49 (in summer)---vs. $150+ back when I Lived in Apartments.
Well taken care of. At least once every 2-3 months See someone steam vacuuming carpeted floors.
10-feet tall Doors, 14-foot Ceilings. Floor to Ceiling Windows. Well crafted Alliances./Kitchen Doors/trim, etc.
Whatever you do, stay away from Eclipse, "Allegedly" It's going down hill FAST!--
For fear of getting sued, should put "Allegedly".
If you are specifically looking. for the $200-$300K-i sh range (when market returns back to a "rational" expectation. Don't see how you can go wrong with Ovation.
Heck, you walk out the front door, you have Seasons 52, Chops Lobster Bar (used to be NAVA--I'm sure whatever goes there is nice).
Next door to you are $3MM-$8MM St. Regis Condos/mixed use Hotel is 5-Star $500/night.
HOWEVER, if you're looking at Ovation as a rental investment. The waiting list is 5-years (not a typo)---FIVE YEARS---to become a renter. Thus, don't seem to think will have a lot of renters around you.
Forget Economy--and Apocalyptic Expectations--lets assume things return "rational" in next 3-4 years. I simply can't imagine things going down hill. Heck, Ovation was completed in 2006--Most "Move ins" were 2007. Thus places essentially less than 5-years old.
If you go to sell, you're still less than 10-years old with the newest Rodeo Drive around.
Finally, look up Buckhead Community Improvement District (CID)---THAT is a PRIVATE effort (not public)--so you name it..Who's Who of Atlanta is on the Board. Selig, Loudermilk, etc.etc.
"CID" will Cover from Lenox Mall down to Roxboro (Fellini's Pizza on Peachtree). ---Lot's of Green Space,etc.
I simply cannot imagine, not seeing a sweet return when Ovation is *DIRECTLY* across from the building up.
Heck, I was sitting in front of Plaza One the other day...just chilling, enjoying the Sun---saw Joggers, Bicyclists, Dog Walkers---in less than 10-mins--BEFORE "CID"
---small sample of walking distance (when I say "Walking" I mean counted in FEET not miles).
Whole Food Market
The Capital Grille
Cheese Cake Factory
HermÃ¨s of Paris
Here's a YELP view on what's all around you.
Did a pull of "Everything"---in "Buckhead", 1 mile or Less---5690 Results
(of course includes everything from "Active Life to Shopping" (choose your desires after pulling up).
I also looked at Paces 325, my Realtor said HOA does not allow rentals, however just Googled, said "Rentals/For Sale" *shrug*
I simply cannot see how things can go south. (Yes, it's always possible)
However besides raw property value
It's in Atlanta Police Department Zone 2--Safest of all the zones.
you're squatted beside a $3-$8MM Mixed use Condo (the Hotel is $500 per night 5-star hotel).
On your Other side is Chees Cake--you have just about all of Buckhead Life Group--restaurnats in Walking distance. (so Pano--I'm SURE will make sure---along with Sam Massel)--things stay good.
Last but not least.The Billion Dollar Dirt mound. I personally know SunTrust Bank is EXTREMELY conservative bank--they sat out most of 2008 crash.
They're BEGGING to get in on the $1Billion Project--Finance for Interest Income.
SunTrust eyes Buckhead Atlanta
SunTrust Banks Inc. wants back in the commercial real estate lending game in a big way, including the chance to finance construction of Buckhead Atlanta, nearly three years after work stopped on the $1.5 billion project.
Again, you bet your bottom dollar, this is not EVER gonna be a "bar district" again. Too much "money" floating around. When you have MILLION Dollar Condo's,
(Heck, I've yet to see more than 3-5 St. Regis up for sale. Thus, the implication is buy and stay---so, they won't put up with nonsense.
Good Luck on Hunt!