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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.

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Contact Information


Taylor Brown

Director - Multifamily Sales and Lending
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