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Life at Greenbriar

376 Units - Atlanta, GA

Property Highlights:

Year Built / Renovated: 1971 / 2021
Number of Units: 376 Units
Average Square Feet: 928 SF
Total Square Feet: 349,259 SF

Site Details

Site Size / Density: 23.3 Acres; 16.1 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Black Appliances
  • Faux Granite Countertops*
  • Frost-free Refrigerator
  • Separate Dining Area
  • Pantry
  • Linen Closet*
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)
  • Six-panel Interior Doors*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Controlled Access Gate
  • Playground
  • Laundry Center
  • Dog Park
  • Mail Kiosk
  • On Bus Line

Investment Highlights:

  • The Life at Greenbriar is a significantly improved 1971-built multifamily asset consisting of 376 units.
  • The property offers solid architectural bones with low-maintenance brick and vinyl exteriors and pitched roofs with architectural shingles.
  • With a recent infusion of $4M+ in capex and upgrades, including new roofs, the property is in excellent condition with proven renovation premiums.
  • The current owner upgraded 65 units. An additional 14 units are down and will be fully renovated and brought online before closing.
  • A new owner can continue proven interior upgrades on the remaining 297 units and charge rents of $1,110 - $1,440, a $355 average increase over the average in-place rents of $944.
  • Large demand for rentals is indicated by 27 pre-leased units
  • There are 14 units offline that are currently being renovated by the owner and are expected to be completed in October 2021.
  • A newly renovated leasing office will be online October 2021.
  • Recent installation of low-flow toilets shows $22k/month in new forward looking expense
  • The average household income is over $60,000 within a three-mile radius of the property.
  • As of Q2 2021, the South Atlanta submarket enjoyed 8.8% annual rent growth and 9.7% annual revenue growth according to RealPage.
  • Close to Tyler Perry Studios, Fort McPherson redevelopment site, MARTA rail line, and Smart Transit Corridor.
  • Quick access to the I-75/I-85 Connector, Hartsfield Airport, the downtown business district, Georgia State University, and the Atlanta University Center.

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Contact Information

Taylor Brown

Managing Director

Barden Brown

Senior Managing Director

Chandler Brown

Director, Multifamily Sales and Lending