Login
New User
Your Profile

1890 Adams House

A 328-Unit Multifamily Asset, Atlanta, Georgia | 1890 House: 176 Units, Adams House: 152 Units


Site Details

Site Size: Acres

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Fire Stops on all Vent Hoods
  • Separate Dining Area*
  • Washer/Dryer Connections*
  • Faux Wood Vinyl Flooring
  • Spacious Closet(s)
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Leasing Office
  • Laundry Centers (3 at each phase; 6 total)
  • Fenced Community Green Area
  • Mature Landscaping
  • Mail Kiosks
  • Bus Stop at Entrance
  • Immediately Adjoins YMCA
  • Faces Public Golf Course, Library, and Adams Park (pool, tennis, baseball, etc.)

Investment Highlights:

  • 1890 Adams House is a desirably-sized property consisting of 328 units, which provides economies of scale for operations.
  • The subject was acquired in two phases. The 1890 House phase consists of 176 and the Adams House phase consists of 152 units.
  • Property lacks 0.8 low flow toilets and LED exterior building lighting package; their installation would help facilitate “green financing”
  • The all-brick garden-style asset features pitched roofs and six distinct one- and two-bedroom floorplans.
  • Highly sought-after asset consistently occupied at over 98%, with the opportunity to raise rents.
  • Rents in the immediate submarket have increased 6% in the last two years.
  • Opportunity to steadily burn off loss-to-lease and significantly boost collections by $280,000+.
  • The asset is offered at an attractive price per unit compared to recent sales comparables.
  • Close to new Tyler Perry Studios, Fort McPherson redevelopment site, MARTA rail line, and Smart Transit Corridor.
  • Quick access to the I-75/I-85 Connector, Hartsfield Airport, the downtown business district, Georgia State University, and the Atlanta University Center.

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

Cory Caroline Sams

Director, Multifamily Sales and Lending
678-296-2220
cory@brownra.com

Bo Brown

President and CEO