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1890 Adams House

A 328-Unit Multifamily Asset, Atlanta, Georgia | The 1890 House phase consists of 176 on Myrtle Street and the Adams House phase consists of 152 units on Campbellton Road.


Property Highlights:

Year Built / Renovated: 1969 / N/A
Number of Units: 328 Units
Average Square Feet: 859 SF
Total Square Feet: 281,910 SF

Site Details

Site Size / Density: 18.0 Acres; 18.3 Units per Acre Parking: Ample

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 consists of two phases. The 1890 House phase consists of 176 on Myrtle Street and the Adams House phase consists of 152 units on Campbellton Road.
  • The all-brick garden-style asset features pitched roofs and six distinct one- and two-bedroom floorplans.
  • Highly sought-after asset consistently occupied at 99%, with the opportunity to raise rents.
  • Significant loss to lease upside can yield an additional $200,000+ in revenue by rolling through the rent roll at today‚Äôs rental rates.
  • A new owner has the opportunity to implement an interior value add renovation. Nearby rent comparables prove the ability to increase rents $250+.
  • As of Q2 2021, the South Atlanta submarket enjoyed 8.8% annual rent growth and 9.7% annual revenue growth according to RealPage.
  • Within a 3-mile radius of the property, the average household income is nearly $60,000 and the median income is over $41,500.
  • Close to new Tyler Perry Studios, Fort McPherson redevelopment site, MARTA rail line, and Smart Transit Corridor.
  • Convenient access to industrial space and business parks located south of the subject. Tenants include Home Depot, Amazon, Clorox, Procter & Gamble, and Chick-fil-A headquarters.
  • 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

Senior Managing Director
678-894-2221
barden@brownra.com

Taylor Brown

Managing Director
678-894-2219
taylor@brownra.com