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Ashgrove

A 92-Unit Multifamily Asset | Stone Mountain, Georgia


Property Highlights:

Year Built / Renovated: 1984 / N/A
Number of Units: 92 Units
Average Square Feet: 638 SF
Total Square Feet: 58,752 SF

Site Details

Site Size / Density: 7.6 Acres; 12.1 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator with Icemaker
  • Open Breakfast Bar*
  • Built-in Bookshelves*
  • Patio
  • Raised Ceiling in Living Room
  • Washer/Dryer Connections
  • Laundry/Utility Room
  • Attic Storage
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Leasing Office
  • Mail Kiosk
  • Mature Landscaping
  • Within Walking Distance of Bus Line

Investment Highlights:

  • Well-occupied asset with strong in-place cash flow offering immediate returns.
  • Cardinal-style construction featuring recent capital infusion and good bones.
  • Proven value-add opportunity through interior renovation program.
  • Rent and sales comparables for nearby Cardinal properties provides support for future upside.
  • Low-cost provider in the market attracts elderly residents with a below-market turnover rate.
  • Smaller unit sizes provide efficiencies in expenses.
  • The subject is located just off Rockbridge Road (16,500 vehicles per day) and close to Memorial Drive (40,600 v.p.d.) providing residents quick access to I-285 (204,000 v.p.d.), which facilitates quick commutes to major metro employers.
  • One mile east of the Clarkston campus of Georgia State University‚Äôs Perimeter College, a major employer.
  • Two miles from the DeKalb County government complex, a major employment hub.
  • Within six miles of major DeKalb employment hubs: Emory University and Hospital, CDC headquarters, Emory Decatur Hospital, and downtown Decatur.
  • Convenient to bus lines and rapid rail stations.
  • Offered on an all-cash basis.

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Contact Information


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

Barden Brown

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

Bo Brown

President and CEO