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Forest Ridge

CALL FOR OFFERS - August 4, 2021 | Forest Ridge is a 406 unit, 1983-built property in Marietta (Cobb County), GA.

Property Highlights:

Year Built / Renovated: 1983 / 2007
Number of Units: 406 Units
Average Square Feet: 927 SF
Total Square Feet: 376,648 SF

Site Details

Site Size / Density: 37.2 Acres; 10.9 Units per Acre Parking: Ample

Unit Features

  • Stainless Steel Appliances*
  • True Granite Countertops*
  • Frost-free Refrigerator with Icemaker
  • Separate Dining Area*
  • Washer/Dryer Connections and Appliances*
  • Laundry/Utility Room*
  • Patio/Balcony or Screened Porch
  • Exterior Storage Closet*
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)*
  • Fireplace*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Two Resort-Style Swimming Pools
  • Fitness Center
  • Two Playgrounds
  • Carports
  • Club Room with Gourmet Kitchen
  • Picnic Area with BBQ Grills
  • Fire Pit with Outdoor Kitchen
  • Community Garden
  • Laundry Facilitiy
  • Package Lockers
  • Mail Kiosk

Investment Highlights:

  • Forest Ridge is a 1983-built property with building exteriors and amenities in turnkey condition.
  • This garden-style asset features 406 units with six distinct one-, two- and three-bedroom floorplans which average 928 SF.
  • Timeless construction offers desirable elements including vinyl siding, pitched roofs, exterior breezeways, and washer/dryer connections (in most units).
  • Approximately 88 interiors have been renovated to the “elite” level.
  • Value Add: A new investor has the opportunity to continue “elite” level renovations on the remaining 300+ units.
  • There is also an opportunity to build 8 additional twobedroom units on the property, potentially increasing NOI.
  • According to CoStar, the Cumberland/Galleria Submarket experienced a 9% year-over-year rent growth as of Q2 2021. The median household income is $71,000+ within a three-mile radius according to RealPAge.
  • The property is served by the highly sought-after East Cobb County School System.
  • Residents are within walking distance to Publix, Starbucks, Chick-Fil-A, and Panera.
  • The asset is within two miles of the $1.1B Braves Stadium and entertainment/lifestyle complex, The Battery and Truist Park. Additionally, Forest Ridge is less than three miles from Cumberland Mall and the Platinum Triangle, which consists of a wide array of retail and office and retail developments.
  • Forest Ridge enjoys a convenient location right off of Terrell Mill Road, which will soon to be enhanced with a new connector road. The property enjoys proximate access to I-75, allowing for excellent accessibility to all of metro Atlanta.

To access more detailed information about this property such as the Offering Memorandum PDF or other documents please Log in or Register.

Contact Information

Cory Caroline Sams

Senior Director

Barden Brown

Senior Managing Director

Walter Miller

Senior Managing Director

Chandler Brown

Director, Multifamily Sales and Lending

Bo Brown

President and CEO