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The Life at West Cobb

CALL FOR OFFERS March 10, 2021 -- 395-Unit Multifamily Asset | Marietta, Georgia


Property Highlights:

Year Built / Renovated: 1970 / 2010
Number of Units: 395 Units
Average Square Feet: 1,139 SF
Total Square Feet: 450,010 SF

Site Details

Site Size / Density: 32.3 Acres; 12.2 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Stainless Steel Appliances*
  • Frost-free Refrigerator
  • Open Breakfast Bar*
  • Separate Dining Area*
  • Patio/Balcony
  • Washer/Dryer Connections*
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)*
  • Ceiling Fan(s)
  • Window Blinds
  • Garage*
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Controlled Access Gate
  • Swimming Pool
  • Fitness Center
  • 2 Laundry Centers
  • Playgrounds
  • After School Program
  • Picnic Areas
  • Car Care Center
  • Mail Kiosk

Investment Highlights:

  • 90% LIHTC property with ability to file for the qualified contract immediately and turn market rate in one year.
  • Located in Cobb County, a highly-desirable north Atlanta location with high growth rates and strong demographics.
  • Built in 1970, The Life at West Cobb apartments feature desirable one-, two-, three-, and four-bedroom garden and townhome floorplans that average 1,139 SF.
  • Desirable construction elements include: pitched roofs, double pane windows, vinyl/HardiePlank and brick exteriors, and an extensive amenity package.
  • The property underwent a multi-million dollar renovation in 2006 and a recent $2M capital infusion.
  • The average in-place rent of $847 is far below nearby comps of similar age and size, which span from $1,300-$1,800 for renovated “elite level” two-bedroom floorplans.
  • Cobb County has a high barrier to entry for new construction, rendering the existing housing stock more valuable.
  • In highly-rated Cobb County school system, located a quarter of a mile from the new $30M Osborne High School and $14M Cobb Innovation and Technology Academy.
  • Situated just off Windy Hill Road (36,800 vehicles per day) close to Austell Road (37,600 vehicles per day).
  • Convenient to massive commercial and employment district surrounding Cumberland, Vinings, and Truist Park.

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

Contact Information


Taylor Brown

Managing Director
678-894-2219
taylor@brownra.com

Cory Caroline Sams

Senior Director
678-296-2220
cory@brownra.com

Chandler Brown

Director, Multifamily Sales and Lending
678-894-2225
chandler@brownra.com

Barden Brown

Senior Managing Director
678-894-2221
barden@brownra.com