Life at Avery Park
Year Built / Renovated: 1970 / N/A
Number of Units: 220 Units
Average Square Feet: 1,346 SF
Total Square Feet: 296,200 SF
Site Size / Density: 22.6 Acres; 9.7 Units per Acre Parking: Ample
- Fully-equipped Kitchen
- Stainless Steel Appliances*
- Granite Countertops*
- Subway Tile Backsplash*
- Separate Dining Area
- Washer/Dryer Connections
- Faux Wood Vinyl Flooring*
- Walk-in Closet(s)*
- Six-panel Interior Doors
- Ceiling Fan
- Window Blinds
- (* In select units)
- Clubhouse/Leasing Office
- Swimming Pool
- New Playground
- Package Receiving
- Mail Kiosk
- 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.