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Grace Mableton

264 Units • Built in 2008


Property Highlights:

Year Built / Renovated: 1971 / N/A
Number of Units: 272 Units
Average Square Feet: 874 SF
Total Square Feet: 237,950 SF

Site Details

Site Size / Density: 18.7 Acres; 14.5 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse
  • Resident Business Center
  • Playground
  • Laundry Center
  • Courtyard
  • Picnic / Grilling Area
  • Mail Kiosk

Investment Highlights:

  • 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.

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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