The Life at West Cobb
CALL FOR OFFERS March 10, 2021 -- 395-Unit Multifamily Asset | Marietta, Georgia
Year Built / Renovated: 1970 / 2010
Number of Units: 395 Units
Average Square Feet: 1,139 SF
Total Square Feet: 450,010 SF
Site Size / Density: 32.3 Acres; 12.2 Units per Acre Parking: Ample
- Fully-equipped Kitchen
- Stainless Steel Appliances*
- Frost-free Refrigerator
- Open Breakfast Bar*
- Separate Dining Area*
- Washer/Dryer Connections*
- Faux Wood Vinyl Flooring
- Walk-in Closet(s)*
- Ceiling Fan(s)
- Window Blinds
- (* In select units)
- Clubhouse/Leasing Office
- Controlled Access Gate
- Swimming Pool
- Fitness Center
- 2 Laundry Centers
- After School Program
- Picnic Areas
- Car Care Center
- Mail Kiosk
- 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.