Investment Overview

Marcus & Millichap is pleased to present Abbey Lake Apartments, a 152-unit property located in Thomasville, GA. Situated in close proximity to the Georgia-Florida Parkway/Smith Avenue interchange, the asset offers investors a centrally-located asset convenient to Thomasvilles preeminent retail corridor, downtown Thomasville, and surrounding economic generators. Boasting a unique product mix, Abbey Lake offers an attractive array of one-, two-, and three-bedroom units in flat, townhome-style and garden-style floor plan options.
Current ownership has performed numerous capital projects at the community, including new roofing, parking lot improvements, and upgrades to the pool and clubhouse amenities. In addition to these recent exterior improvements, there have been interior upgrades to nine of the units, modernizing the interiors with new cabinetry, granite countertops, tile backsplash, new flooring, modernized paint scheme, and stainless-steel appliances. These improvements have proven extremely effective at capturing renter demand for upgraded units and are garnering rental premiums averaging $145/month, an increase of over 20.0%. Abbey Lake Apartments provides an investor the opportunity to continue this strategic implementation, resulting in an asset that is extremely well-positioned with a competitive advantage over both existing and newly built communities in the market.