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Reserve at Stone Creek

822 units, Completion 1987, Stone mountain, GA Average Unit Size 1,001 SF


Property Highlights:

Year Built / Renovated: 1987 / N/A
Number of Units: 822 Units
Average Square Feet: 1,001 SF
Total Square Feet: 822,939 SF

Site Details

Site Size: Acres

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator w/ Icemaker
  • Black Appliances*
  • Brushed Nickel Hardware and Fixtures*
  • Refinished Cabinets and Countertops*
  • Eat-in Kitchen*
  • Open Breakfast Bar*
  • Separate Dining Area*
  • Washer/Dryer Connections*
  • Patio/Balcony or Sunroom
  • Exterior Storage Closet
  • Upgraded Lighting*
  • Fireplace*
  • Walk-in Closet(s)
  • Ceramic Tile Tub Surround
  • Separate Vanity Area
  • Skylights*
  • Ceiling Fan(s)
  • Window Blinds
  • (*In select units)

Community Amenities

  • Controlled Access Gate
  • Clubhouse/Leasing Office
  • 2 Outdoor Swimming Pools
  • Indoor Swimming Pool
  • Tennis Court
  • Bark Park
  • Sports Court
  • Fitness Center
  • Indoor Racquetball Court
  • Multiple Laundry Facilities
  • Internet Café
  • Playground(s)
  • Picnic Area(s)
  • Walking Trail
  • Car Care Area
  • Mail Kiosks
  • Mature Landscaping
  • On Bus Line
  • (*In select units)

Investment Highlights:

  • Late 1980s asset offers desirable construction features
  • Strong organic rent growth story with nearby unrenovated rent competitors achieving $100-$300 higher rents for their “classic” style units
  • Opportunity to burn off steadily loss-to-lease to significantly boost collections by $500,000+
  • Marketable unit mix with 50% two-bedroom units, features highly desirable, spacious floorplans
  • Market-supported, proven value-add play, with the subject receiving $75-$150 rent premiums on in-place renovated leases. Renovated units include: black appliances, painted cabinets, resurfaced countertops, modern lighting & fixtures
  • The property is in excellent condition with $3,250,000 in recent capital expenditures
  • Excellent visibility and exposure facing well-traveled South Hairston Road (24,200 vehicles per day)
  • Rare opportunity to acquire 822 Units on 103-acres, offering immediate economies of scale in the top performing Atlanta Apartment Market
  • Quick access to Memorial Drive and world-renowned Emory University and Hospital, DeKalb Medical Center, and downtown Decatur

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

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

Chandler Brown

Multifamily Investment Advisor
678-894-2225
chandler@brownra.com

Cory Caroline Sams

Multifamily Investment Advisor
678-296-2220
cory@brownra.com

Bo Brown

President and CEO