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Iris Glen

REO Opportunity, In Conyers, GA Price To Be Determined By Auction Ten-X (fka Auction.com) Event B221-153 Property 1000005607 Website Live Beginning October 10, 2017 Bidding on December 11-13, 2017

Property Highlights:

Year Built / Renovated: 1983 / N/A
Number of Units: 79 Units
Average Square Feet: 605 SF
Total Square Feet: 47,808 SF

Site Details

Site Size / Density: 9.2 Acres; 8.6 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Pass-through Shelving System
  • Washer/Dryer Connections
  • Faux Wood Vinyl Flooring
  • Laundry/Utility Room
  • Private Patio*
  • Vaulted Ceiling*
  • Ceiling Fan(s)*
  • Window Blinds
  • Attic Storage
  • (*In select units)

Community Amenities

  • Leasing Office
  • Laundry Facility
  • Mail Kiosk
  • Mature Landscaping

Investment Highlights:

  • Submarket’s average occupancy of 97.9% is one of the highest in the MSA.
  • 100% occupied, cash-flowing property with 20+ person waitlist.
  • The asset is clearly visible to drivers on Interstate 20 (109,000 vehicles per day).
  • Located just half a mile east of Hwy. 138 (68,300 vehicles per day) offering immediate access to the I-20 interchange.
  • Proximate to major retail power centers including Belk, Kohl’s, Home Depot, and the commercial district.
  • Large recent job announcements by Acuity Brands, Batchelor & Kimball, Third Ring Studios, Baxalta Pharmaceuticals, and the planned $200 million Atlanta Sports City complex will boost demand for housing. These recent announcements will bring over 2,700 jobs.
  • Proven interior renovation will result in $100 rent increase.

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Contact Information

Barden Brown

Managing Director, Multifamily Sales and Lending

Chandler Brown

Director, Multifamily Sales and Lending

Bo Brown

President and CEO