Login
New User
Your Profile

Life at Avery Park

220-Units


Property Highlights:

Year Built / Renovated: 1970 / N/A
Number of Units: 220 Units
Average Square Feet: 1,346 SF
Total Square Feet: 296,200 SF

Site Details

Site Size / Density: 22.6 Acres; 9.7 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Stainless Steel Appliances*
  • Granite Countertops*
  • Subway Tile Backsplash*
  • Separate Dining Area
  • Patio
  • Washer/Dryer Connections
  • Faux Wood Vinyl Flooring*
  • Walk-in Closet(s)*
  • Six-panel Interior Doors
  • Ceiling Fan
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Swimming Pool
  • New Playground
  • Package Receiving
  • Mail Kiosk

Investment Highlights:

  • The Life at Avery Park is a desirably-sized property consisting of 220 townhome units, which provides economies of scale for operations.
  • The property is 100% two- and three-bedroom townhomes that average a spacious 1,346 SF.
  • Attractive architecture with brick and vinyl exteriors, pitched roofs, total electric units, and washer/dryer connections in all floorplans.
  • Opportunity to steadily burn off loss-to-lease and significantly boost collections by $430,000 per year without considering future upgrades.
  • 23 upgraded units are achieving approximately $150 and $140 premiums for the two- and three-bedroom floorplans, respectively.
  • Preleased at 94%, occupancy should allow for strong collections.
  • In the coming months it is expected the NIP (Noise Insulation Program) will renovated the property with insulation, windows, entry doors, and sliding glass doors. A new owner will benefit from this estimated $4,000/unit renovation through future capital needs as well as curb appeal.
  • Located just off Camp Creek Parkway (48,100 vehicles/day) and 4 minutes away from the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport, which is one of the largest employers in the state (64,000 employees) and is undergoing $330 million renovation.
  • Three-minute drive to recently announced “Airport City,” a 320-acre site on Camp Creek Parkway consisting of a $700 million redevelopment.
  • Recent activity has spurred the City of College Park to expand Camp Creek Parkway and upgrade the interchange at I-285.
  • Rent growth in the South Atlanta submarket of nearly 8%, according to RealPage.

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

Barden Brown

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

Chandler Brown

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