Lenox Villas-Any Info? (Atlanta, Buford: apartment complex, foreclosures, renters)

[hirev350]

Hi! We are currently thinking about purchasing a condo in Lenox Villas, and I was wondering if anyone has any helpful information about the complex, surrounding areas, or general comments? Thanks for all your help in advance!

[ATLTJL]

Wish I could tell you for sure, but I have never been inside.

Judging by the photos and floorplans, this appears to be a building that was constructed as apartments, probably in the 80s or early 90s and then went condo.

Since it was built as apartments, it is build to apartment code and not condo code. Therefore, my largest area of concern would be how the ceilings/floors and walls are constructed and how much sound passes through. My bet is you get an awful lot of sound transmission from the tenants above you.

[atlantagreg30127]

If you are talking about the place on Sidney Marcus, then here are the reviews on the apartment rating site (from those renting out the condos): LINK

That being said, I do believe ATL's comment was correct - these were built a number of years ago as higher-dollar apartments (at the time). I knew someone who lived there then (early 90s or so) and they liked living there, but they worked out of town so much I doubt they were home long enough to know the day-to-day issues that might have been there, and it was again, years ago.

Conversions can be tricky. Apartment construction in Atlanta overall is, well, typically bad with a few exceptions here and there. Condo complexes that are built to be such, typically have better soundproofing and firewall systems in place, whereas apartments - not so much in many cases. Do some investigating or just flat-out ask the selling agents there about the history of the units, what was done during the conversation process, etc.

[hirev350]

Thanks for all your advice! We took a tour of the unit and loved it! As for sound, I couldn't tell because it was in the middle of a work day. I will be out of town frequently as well, so one of my biggest concern is the HVAC system, since the building is older. The place I live at currently already had the HVAC system replaced, and the townhomes were built in the late 2000's...Do apts like these usually share HVAC systems, or do they have individual ones?

[Iconographer]

One word of warning: Traffic at the intersection of Buford Hwy/Sidney Marcus and Lenox Rd is HIDEOUS, particularly at rush hour.

[George Chong]

Originally Posted by hirev350

Thanks for all your advice! We took a tour of the unit and loved it! As for sound, I couldn't tell because it was in the middle of a work day. I will be out of town frequently as well, so one of my biggest concern is the HVAC system, since the building is older. The place I live at currently already had the HVAC system replaced, and the townhomes were built in the late 2000's...Do apts like these usually share HVAC systems, or do they have individual ones?

The complex probably has individual units. You can check the Seller's Disclosure Statement to determine the approximate age of the unit.

[ATL Golfer]

I just sold a 2bd unit in there. It is an apartment complex turned into condos. Decent enough complex. Very diverse crowd there. Seemingly a lot of people from other countries. Lot of renters as well. Getting into and out of it is rather annoying with residents being forced to make a u-turn at Buford Hwy and Lenox Rd to get back to the complex. And if you want to get on the 85 access road heading south, you must do the same on Sidney Marcus. The area itself tends to get extremely congested during rush hour.

If your unit has one of those funky heater/fireplace units, I would remove it. They didn't appear very safe to me. The HVACs are definitely not shared. Utility closet on patio. Also, make sure your connections to the HVAC are to code. Ours were plastic vs metal which is required. The venting system from the hot water heater also needed to be addressed (it wasn't venting, but going into the utility closet for the most part).

I believe the HOA is doing ok, but there have been a decent amount of foreclosures in there. We got asking price for our unit, so we were happy (top story, corner unit).

[ATLTJL]

Why are there so many renters there? Are some of the units still apartments, or does the HOA not have strict rules on how many units can be individually rented out? Or do they have the rules and just not enforce them?

Most condos have a 25% rule.

[ATL Golfer]

Originally Posted by ATLTJL

Why are there so many renters there? Are some of the units still apartments, or does the HOA not have strict rules on how many units can be individually rented out? Or do they have the rules and just not enforce them?

Most condos have a 25% rule.

Most people don't abide by the 25% rule if they can get away with it. Especially when their condo is worth 1/2 of what it was, they need to move, but can't sell it today without taking a bath. They'll just rent under the radar. None are still apts.

[ATLTJL]

My subdivision has a 5% rental cap. Needless to say, it's almost impossible to rent out and the waiting list is huge.

I always wondered what renting under the radar would be like. Is the HOA pretty much powerless about this? I mean, if they really wanted to, could they crack down? And if so, what could they do?