Login
New User
Your Profile

The Life at Windy Hill

A 257-Unit Multifamily Asset | Marietta, Georgia


Property Highlights:

Year Built / Renovated: 1968 / 2017
Number of Units: 257 Units
Average Square Feet: 1,379 SF
Total Square Feet: 354,493 SF

Site Details

Site Size / Density: 22.7 Acres; 11.3 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Separate Dining Area*
  • Pantry*
  • Wood Look Floors*
  • Washer/Dryer Connections*
  • Patio/Balcony*
  • Walk-in Closet(s)
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Controlled Access Gate
  • Coffee Bar
  • Swimming Pool
  • Soccer Field
  • Fitness Center with Yoga Studio
  • BBQ/Picnic Area
  • 3 Playgrounds
  • Laundry Center
  • Dog Park
  • Mail Kiosk
  • Within Walking Distance of Bus Line

Investment Highlights:

  • Located in Cobb County, a highly-desirable north Atlanta location with high growth rates and strong demographics.
  • The asset is a 40%/60% low-income housing tax credit (LIHTC) property with only 2 years remaining (LURA ends in 2022).
  • Built in 1969 and renovated in 2017 and 2019 with almost $6.4M in capex and upgrades completed (see capex chart on page 10).
  • The Life at Windy Hill apartments feature remarkably sized one-, two-, and three-bedroom majority townhome floorplans (78%) that average a spacious 1,379 SF, the largest floorplans in the submarket.
  • Desirable construction elements include: pitched roofs, exterior breezeways, and low-maintenance brick and HardiePlank exteriors.
  • Offered below recent sales submarket comps at an attractive price per unit and excellent price per square foot.
  • Opportunity to burn off $317,000 of loss to lease by bringing below market rents up to currently achieved rents on the existing unit mix.
  • 65 unrenovated units provide further value-add opportunity.
  • In highly-rated Cobb County school system, located next to $30M Osborne High School replacement and expansion. Once construction is complete, Osborne High School will be Cobb County‚Äôs newest STEM and college preparatory program.
  • Situated just off Windy Hill Road (36,800 vehicles per day) close to Austell Road (37,600 vehicles per day).
  • 6.6% rent growth in the West Marietta submarket over last 12 months according to RealPage (see page 66 of OM).
  • Convenient to massive commercial and employment district surrounding Cumberland, Vinings, and Truist Park.

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

Chandler Brown

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

Cory Caroline Sams

Senior Director
678-296-2220
cory@brownra.com

Barden Brown

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