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Multifamily

The Pines of Southlake

985 Mt Zion Rd, Morrow, GA 30260

Listing Price: Request For Offer

Number of Units
93
Gross SF
106,367

Investment Overview

The well-performing subject property is exhibiting positive momentum in regards to in-place operating performance and profitability. Collections hit an all time high in Q1 of 2021 with monthly income exceeding $96K. Additionally, the subject’s airport market has seen tremendous “organic” growth attributable to strong market demand for well-appointed residential units. With Atlanta’s airport submarket continuing to attract major employers in the industrial and warehouse sectors, surging population, continuing stable occupancy and rent growth are imminent, and Pines of Southlake is positioned to continue to experience strong demand and impressive rent growth. The Pines of Southlake offers affordable two and three bedroom apartments and townhomes. Amenities include appliance filled kitchens with dishwasher for convenience. The property features spacious closets and beautiful hardwood floors.

Investment Highlights

  • Interior Renovations A total of 51 units have been renovated, including: • Plumbing • Electric • HVAC • Insulation & Drywall • Cabinets • Appliances • Finish Carpentry • Floors • Hardware • Paint
  • Amenity Modernization • New Playground • Parking Lot Asphalt Works and Seal and Stripe • Pool Repairs • Office Revamp
  • Highly-Marketable Unit Mix: • Two- and Three- Bedroom Units Averaging 1,144 Square Feet • 69 Two-Bedroom Floor Plans • 24 Three-Bedroom Floor Plans
  • Positive Trend in Both Occupancy and Collections • Current Occupancy exceeds 96% with Minimal Annual Turnover • Collections exceeded $96K for the month of March 2021
  • Proximity to Georgia's Largest Employer: Hartsfield-Jackson International Airport • Supports over 63K Jobs with an Economic Impact Exceeding $70B Within the State • World's Busiest Airport with 100 Million Annual Passengers

Exclusively Listed By

Multifamily

The Pines of Southlake

Listing Price: Request For Offer

Number of Units
93
Gross SF
106,367

Investment Highlights

  • Interior Renovations A total of 51 units have been renovated, including: • Plumbing • Electric • HVAC • Insulation & Drywall • Cabinets • Appliances • Finish Carpentry • Floors • Hardware • Paint
  • Amenity Modernization • New Playground • Parking Lot Asphalt Works and Seal and Stripe • Pool Repairs • Office Revamp
  • Highly-Marketable Unit Mix: • Two- and Three- Bedroom Units Averaging 1,144 Square Feet • 69 Two-Bedroom Floor Plans • 24 Three-Bedroom Floor Plans
  • Positive Trend in Both Occupancy and Collections • Current Occupancy exceeds 96% with Minimal Annual Turnover • Collections exceeded $96K for the month of March 2021
  • Proximity to Georgia's Largest Employer: Hartsfield-Jackson International Airport • Supports over 63K Jobs with an Economic Impact Exceeding $70B Within the State • World's Busiest Airport with 100 Million Annual Passengers

Investment Overview

The well-performing subject property is exhibiting positive momentum in regards to in-place operating performance and profitability. Collections hit an all time high in Q1 of 2021 with monthly income exceeding $96K. Additionally, the subject’s airport market has seen tremendous “organic” growth attributable to strong market demand for well-appointed residential units. With Atlanta’s airport submarket continuing to attract major employers in the industrial and warehouse sectors, surging population, continuing stable occupancy and rent growth are imminent, and Pines of Southlake is positioned to continue to experience strong demand and impressive rent growth. The Pines of Southlake offers affordable two and three bedroom apartments and townhomes. Amenities include appliance filled kitchens with dishwasher for convenience. The property features spacious closets and beautiful hardwood floors.

Exclusively Listed By

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