Price: $ Market Bid
Total Number of Units: 103
Address: Marietta, GA, United States
- Proven Value Add Opportunity: New Ownership is given an opportunity to push rents by implementing interior upgrades throughout all three properties. Revenue can be pushed with a $100 monthly increase per unit which will boost NOI by $123,600 annually.
- Connectivity to Economic Drivers: Since 2015, the county realized more than $320 million in economic impact and over 5,500 jobs from companies such as Comcast, Aaron’s Inc., Synovus Financial Corp. and The Home Depot expanding within the county’s boundaries.
- Substantial Economic Growth: All three properties are located in Marietta, GA which has a population of over 56,500, an unemployment rate of 5%, and a future job growth over the next decade to be 35%.
- Economies of Scale: This investment opportunity gives investors the ability to acquire 103 units located in a highly desirable market with proven rent growth.
- Georgian Village: Georgian Village is a 1974 built value-add investment opportunity in Marietta, GA. The property consists of 42 units that has maintained close to 100% occupancy over the last few years. The surrounding market has seen a steady increase, leaving tremendous upside for an incoming investor that is looking to increase rents. We believe that rents can be grown by $100 and still maintain its current occupancy rate. The apartment community features a swimming pool and well-maintained grounds. Georgian Village is made up of standard and plus sized 1BR/1BA units as well as 2BR/1BA units. All units can be upgraded with new stainless-faced appliances, fixtures, and countertops that will result in instant rent premiums.
- Knox Landing: Knox Landing is a 1970 built value-add investment opportunity in Marietta, GA. The property consists of 40 units that has kept an occupancy rate of nearly 100% over the last few years. We believe that rents can be grown by $100 and still hold an occupancy rate of 100%. The apartment community features beautifully landscaped grounds. Knox Landing is made up of 1BR/1BA and 2BR/1BA units which can be upgraded to reach premium market rents.
- Twelve Oaks: Twelve Oaks is a 1967 built value-add investment opportunity in Marietta, GA. The property consists of 21 units that has maintained close to 100% occupancy over the last few years. Like the other two properties, the rents are currently positioned below market and we believe that rents can be grown by $100. The apartment community features units with upgraded hardwood floors and kitchen appliances. Twelve Oaks is made up of Studio, 1BR/1BA, and 2BR/1BA units. While some upgrades have already taken place in select units, there is still room to upgraded the remaining to grow potential rates.
Images Below: Left: Twelve Oaks Interior – Bottom Left: Knox Landing Exterior – Top Right: Georgian Village Exterior – Bottom Right: Georgian Village Exterior