264 Units • Built in 2008
Year Built / Renovated: 1971 / N/A
Number of Units: 272 Units
Average Square Feet: 874 SF
Total Square Feet: 237,950 SF
Site Size / Density: 18.7 Acres; 14.5 Units per Acre Parking: Ample
- Fully-equipped Kitchen
- Frost-free Refrigerator
- Faux Wood Vinyl Flooring
- Walk-in Closet(s)
- Window Blinds
- (* In select units)
- Resident Business Center
- Laundry Center
- Picnic / Grilling Area
- Mail Kiosk
- Grace Mableton is a garden-style consisting of 272 units, which provides economies of scale for operations.
- The asset features desirable construction elements including pitched roofs, HardiePlank siding, and covered exterior breezeways. The property underwent a major renovation in 2010-2011. All balconies were replaced in 2019.
- Interior and exterior value-add opportunity, which supports a rent increase of $200+.
- Proforma NOI of over $2 million using market-supported rents, which suggests attractive yields and the opportunity to exit via sale or recapture at a substantial profit.
- According to the Q4 2020 RealPage report, the South Cobb County/Douglasville submarket shows an average occupancy of 97%, a +9.5% annual revenue increase, and 7.4% annual rental change.
- Attractive price per unit below comparable sales in Mableton and Austell.
- Within a 3-mile radius the median household income is $71,359 and the median owner occupied housing value is $233,397, according to Environomics Analytics.
- Cobb County has a high barrier to entry for new construction, rendering the existing housing stock more valuable.
- Offered at an attractive price per unit, far below comparable sales in Cobb, Mableton and Austell.
- Less than three miles from UPS Regional “Super Hub” which is the second largest ground packaging facility in the country and employs 3,000.
- Situated just off Mableton Parkway (25,200 vehicles per day) near Fulton Industrial Boulevard (43,700 vehicles per day), the subject benefits from excellent visibility.