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Pines of Lanier

157-units, built in 1985


Property Highlights:

Year Built / Renovated: 1985 / N/A
Number of Units: 157 Units
Average Square Feet: 554 SF
Total Square Feet: 87,015 SF

Site Details

Site Size / Density: 8.8 Acres; 17.8 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Upgraded Kitchen Finishes*
  • Frost-free Refrigerator
  • Built-in Microwave*
  • Open Breakfast Bar*
  • Washer/Dryer Connections*
  • Patio/Balcony*
  • Ceramic Tile Flooring*
  • Loft Style Floorplans*
  • Vaulted Ceiling*
  • Ceiling Fan(s)
  • Window Blinds
  • (*In select units)

Community Amenities

  • Leasing Office
  • Swimming Pool
  • Playground
  • Laundry Facility
  • Picnic Area with Grills
  • Mail Kiosk
  • Valet Trash
  • On Bus Line

Investment Highlights:

  • Well-maintained community built in 1985 features pitched roofs (mostly replaced in 2011) and total electric utilities.
  • Historical statements demonstrate the asset enjoys a unique combination of high rent per square foot but low expenses.
  • $77,000 Loss To Lease is shown on the rent roll. All renewals are being taken to 100% of market rent and will result in quick loss to lease reduction.
  • Eleven units have been renovated and are receiving $100 premiums.
  • Rapidly-expanding Hall County ranks among nation’s Top 50 highest-growth counties, with population up 42% since 2000.
  • Location on west Gainesville’s major artery, Browns Bridge Road, exposes property to 22,000 vehicles per day.
  • Located within three miles of major employment hubs such as Brenau University, Northeast Georgia Medical Center, the downtown business district, the airport, and the main retail area.
  • Consistent performer with high occupancy over past several years.
  • Low vacancy submarket across all rental competitors.
  • Rents increased by $20 in December 2017.
  • Asset available for all cash or by loan assumption.

To access more detailed information about this property such as the Offering Memorandum PDF or other documents please Log in or Register.

Contact Information


Barden Brown

Managing Director, Multifamily Sales and Lending
678-894-2221
barden@brownra.com

Taylor Brown

Director - Multifamily Sales and Lending
678-894-2219
taylor@brownra.com

Bo Brown

President and CEO