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Ascent at Riverdale

A 180-Unit Multifamily Asset | Riverdale, Georgia


Property Highlights:

Year Built / Renovated: 1972 / N/A
Number of Units: 180 Units
Average Square Feet: 1,212 SF
Total Square Feet: 218,328 SF

Site Details

Site Size / Density: 8.4 Acres; 21.3 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Separate Dining Area*
  • Washer/Dryer Connections (all but 1BRs)
  • Laundry/Utility Room*
  • Patio/Balcony (all but 1BRs)
  • Faux Wood Vinyl Flooring
  • Sunken Living Room*
  • Ceramic Tile Tub Surround
  • Walk-in Closet(s)*
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Faux Wood Vinyl Flooring
  • Sunken Living Room*
  • Ceramic Tile Tub Surround
  • Walk-in Closet(s)*
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Investment Highlights:

  • Ascent at Riverdale recently benefitted from a $1.8M renovation to interiors and exteriors. Of the 180 total units, 62 units have been heavily renovated ($24,000/unit) and an additional 59 units have been partially upgraded ($5,600/unit).
  • The asset boasts a mix of one-, two-, and three bedroom garden and townhome-style floorplans. The spacious floorplans average over 1,200 square feet with over half of all floorplans being townhome units
  • All windows and roofs (Phase 1 – 2010, Phase 2 – 2018) have been replaced.
  • Property is 96% occupied offering day 1 cash flow before further renovations.
  • Renovated units remain full which indicate the need for a new owner to upgrade the remaining 59 “classic” units. This will result in an increase in in-place rents upon renewal.
  • 80% of units feature washer/dryer connections (all units but one-bedroom).
  • Just off major commercial artery Georgia Highway 85 (44,200 vehicles per day) with quick access to I-75 and I-285
  • A mile from major employer Southern Regional Medical Center
  • The asset is convenient to MARTA bus lines, one of which connects to Atlanta’s largest employment hub, Hartsfield Airport (three miles from subject)
  • Located at center of economic revitalization zone bringing nearly 5,000 jobs, including Fort Gillem and Aerotropolis.
  • Residents are less than a mile from the primary retail corridor in Clayton County. Southlake Mall is a regional center offering more than one million square feet of retail space. The mall is anchored by Macy’s and boasts more than 90 additional shops and eateries. Peripheral big-box retail development near the mall is substantial and is a major source of employment for the area.

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Contact Information


Barden Brown

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

Chandler Brown

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

Taylor Brown

Director - Multifamily Sales and Lending
678-894-2219
taylor@brownra.com

Bo Brown

President and CEO