Pines of Lanier
Pines of Lanier Apartments, a 157-unit property in Gainesville, GA.
Year Built / Renovated: 1985 / 2004
Number of Units: 157 Units
Average Square Feet: 554 SF
Total Square Feet: 87,015 SF
Site Size / Density: 8.8 Acres; 17.8 Units per Acre Parking: Ample
- Fully-equipped Kitchen
- Upgraded Kitchen Finishes*
- Frost-free Refrigerator
- Built-in Microwave Oven*
- Open Breakfast Bar*
- Washer/Dryer Connections*
- Ceramic Tile Flooring*
- Loft Style Floorplans*
- Ceiling Fan(s)
- Window Blinds
- Vaulted Ceiling*
- (*In select units)
- Leasing Office
- Swimming Pool
- Laundry Care Facility
- Picnic Area with Grills
- Mail Kiosk
- Valet Trash
- On Bus Line
- Well-maintained community built in 1985 features pitched roofs and total electric utilities.
- Historical statements demonstrate the asset enjoys a unique combination of high rent per square foot but low expenses.
- New owner can renovate lofts in first year and flats in following years, with proven ability to raise rents after upgrades.
- Rapidly-expanding Hall County ranks among nation’s Top 50 highest-growth counties, with population up 42% since 2000.
- Location facing 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.
- Subject shows below-market rental rates with opportunity to increase $50-$75.
- Asset available for all cash or by loan assumption.