ITP Sandy Springs/North Buckhead condos/townhouses? (Roswell, Dunwoody: low income, apartments)

[BobbyJayATL]

I'm seeing a number of condos/townhouses pop up pretty consistently that look to be 40+ years old, mostly townhouse-style in nature, more or less hugging Roswell Road from the southern end of Chastain Park into Sandy Springs up to Mount Paran or so, at price points ranging from mid- to high-100's up to mid-200's.

Does anyone know the deal with these?

For various reasons we're looking at either renting, or possibly buying something in that general area in the very short term (that long term - i.e. post COVID - we'd probably want to rent out ourselves to tenants, so this isn't by any means a forever home).

They do all seem to have fairly high HOA fees, but those fees seem to cover a lot (pool in many cases, most if not all utilities, etc).

Am I missing something about these? Are there issues with the complexes or financials that I should know about either generally or regarding any of these spots specifically other than them being old/dated, and your plot of personally owned dirt being minimal at best? Do there tend to be restrictions on renting?

Any insights generally or specifically would be appreciated!

[ATLTJL]

I think they're just old and less desirable.

For renting, I wouldn't worry about that, aside from who your neighbors might be and if petty crime is an issue.

For buying, it may be more concerning as older buildings tend to require more costly repairs.

Those Roswell Road condos have always been on the cheap side, as far as I recall.

[Citykid3785]

I know you didn't specify this far north, but Roswell Rd from Abernathy up to the Chattahoochee river is a bit blighted with low income apartments, vacant strip malls, shady characters, etc. It's gentrifying fast, but it will probably take 5+ years. So even thought it's Sandy Springs, its not a place I would want to live. That said, I don't think it's particularly dangerous or anything like that.

[dblackga]

Most of the condos/townhomes clustered around Roswell Road between Mt. Paran and 285 ARE older and don't have the open floor plan that many modern buyers crave. They also tend to be a bit smaller, and depending on the HOA, may not have been maintained quite as meticulously. That said, if you are thinking of buying one with the intent of turning it into a rental later, make sure that you will be able to -- most complexes have strict rules as to how many rental units are allowed, because they want to maintain the value of the property, and too many rentals in a complex make some lenders wary about lending there. If they already have the maximum number of rentals and a waiting list for people who want to rent their unit, then your idea of turning it into a rental later may not be feasible.

Location-wise, though, they are well=placed ITP for shopping and access to Buckhead and downtown, as well as the Perimeter Mall office area and access to the hospital complexes at Peachtree-Dunwoody/Johnson Ferry/Glenridge.