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Arbors at Smyrna

Call for Offers - September 23, 2021 • 340 Units • Built in 1967 & 1969


Property Highlights:

Year Built / Renovated: 1969 / 2018
Number of Units: 340 Units
Average Square Feet: 1,186 SF
Total Square Feet: 403,500 SF

Site Details

Site Size / Density: 26.2 Acres; 13.0 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Upgraded Cabinets and Countertops*
  • Black Appliances*
  • Frost-Free Refrigerator
  • Washer/Dryer Connections*
  • Faux Wood Vinyl Flooring
  • Patio/Balcony*
  • Walk-in Closet(s)*
  • Ceiling Fan(s)
  • Window Blinds
  • (* In select units)

Community Amenities

  • Controlled Access Gate (Phase I)
  • Leasing Office
  • Fitness Center / Clubhouse
  • Swimming Pool
  • Fenced Soccer Field
  • 2 Dog Parks
  • 2 Playgrounds
  • 2 Laundry Centers
  • Mail Kiosks
  • Convenient to Bus Line

Investment Highlights:

  • Located in Cobb County, a highly-desirable north Atlanta location with high growth rates and strong demographics. According to RealPage, the Smyrna submarket experienced 11.8% annualized rent increase and 12.9% annualized revenue increase as of Q2 2021.
  • The Arbors at Smyrna apartments feature market-superior one-, two-, and three-bedroom floorplans averaging a spacious 1,183 SF. 76% of units are townhome floorplans.
  • Newer leases for unrenovated units are $229 higher than the average on the rent roll for the 2BR townhome (1,220 SF) and $293 higher for the 3BR (1,350 SF).
  • Opportunity to burn off $1,050,00 of loss to lease by bringing below market rents up to recently achieved rents on the unit mix.
  • 97% of units are unrenovated providing further value-add opportunity.
  • High occupancy with 20 tenant wait list through October 2021.
  • The current owner spent $1.9M+ in recent capex, which includes a new fitness center.
  • Within a three-mile radius of the property, the median household income is $56,577 according to Environomics Analytics.
  • Situated just off South Cobb Drive (30,900 vehicles per day) close to Windy Hill Road (36,200 vehicles per day).
  • Convenient access to massive commercial and employment district surrounding Cumberland, Vinings, and Truist Park.
  • In highly-rated Cobb County school system
  • Located in a Federal Opportunity Zone

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

Chandler Brown

Director, Multifamily Sales and Lending
678-894-2225
chandler@brownra.com

Taylor Brown

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