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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.

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