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Forest Creek

136 Units | Forest Park


Property Highlights:

Year Built / Renovated: 1965 / N/A
Number of Units: 136 Units
Average Square Feet: 852 SF
Total Square Feet: 115,875 SF

Site Details

Site Size / Density: 7.8 Acres; 17.4 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Stainless Steel or Black Appliances*
  • Faux Granite Countertops*
  • Tile Insert Backsplash*
  • Frost-free Refrigerator with Icemaker
  • Pantry
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)
  • Six-panel Interior Doors
  • Ceiling Fan(s)
  • Window Blinds
  • (*In select units)

Community Amenities

  • Leasing Office
  • Swimming Pool
  • Playground
  • Grilling and Picnic Area
  • Laundry Center
  • Mail Kiosk

Investment Highlights:

  • The asset features desirable construction elements including new pitched roofs and brick exteriors.
  • Interior value-add opportunity with rent comp support of a $143 increase by taking units from current “lite” renovation to full renovation, and $240 rent increase by upgrading classic units to the full renovation level.
  • The Clayton County submarket saw an 12.9% revenue growth and an 10.6% rent change from Q4 2018 to Q4 2020, which is one of the highest in the nation according to CoStar.
  • Recently improved amenities include a poolside grilling station and new playground.
  • Clayton County’s median household income is $50,384.
  • Two and a half miles from metro’s largest employer, Hartsfield-Jackson Atlanta international Airport. One mile from the redeveloped Fort Gillem logistics park, and close to thousands of new jobs.
  • Residents are just three miles from Clayton County’s primary retail corridor, centered on Southlake Mall (one million SF). The mall is anchored by Macy’s and boasts more than 90 additional shops and eateries. Substantial satellite big-box retail is a major source of employment for the area.
  • Five and a half miles from Six West, a $500 million mixed-use development that will include office space, hotels, restaurant and retail space, and homes.
  • Located near proposed bus and rail lines for newly voter approved MARTA expansion into Clayton County, with a direct connection to Atlanta’s international airport.
  • Completely surrounded by stable, middle-class single-family houses in quiet, low-crime area.

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

Bo Brown

President and CEO