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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.

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Contact Information

Barden Brown

Managing Director, Multifamily Sales and Lending

Taylor Brown

Director - Multifamily Sales and Lending

Bo Brown

President and CEO