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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.

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Contact Information

Barden Brown

Senior Managing Director

Taylor Brown

Managing Director