New User
Your Profile

Overlook Ridge

A 230-Unit Multifamily Asset | Atlanta, Georgia

Property Highlights:

Year Built / Renovated: 2004 / N/A
Number of Units: 230 Units
Average Square Feet: 1,089 SF
Total Square Feet: 250,678 SF

Site Details

Site Size / Density: 13.6 Acres; 16.9 Units per Acre Parking: Ample

Unit Features

  • Nine-foot Ceilings
  • Fully-equipped Kitchen
  • Stainless Steel Appliances*
  • Faux Granite Countertops
  • Frost-free Refrigerator with Icemaker
  • Open Breakfast Bar
  • Separate Dining Area
  • Pantry
  • Patio/Balcony with Storage Closet
  • Washer/Dryer Connections
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)
  • Garden Tub in Master Bath
  • Six-panel Interior Doors
  • Ceiling Fan(s)
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Controlled Access Gate
  • Swimming Pool
  • Fitness Center
  • Resident Business Center
  • Laundry Center
  • Mail Kiosk
  • On Bus Line

Investment Highlights:

  • Institutional quality property built by Wood Partners in 2004, offered at well below replacement cost.
  • Property enjoys features like nine-foot ceilings, garden bathtubs, and above-market finishes.
  • Recent amenities and exterior renovations create best-in-submarket curb appeal.
  • Immediate upside available during market rate conversion after LURA expiration. The property entered “Three Year Tail” period in October 2019.
  • Modern upmarket interior renovation receives $200 premium, and is being executed on the turn (approximately 40% complete).
  • Approved Section 8 rent increase of $95-$120 depending on floorplan for 2020.
  • Dynamic Transit Oriented Development – Steps from MARTA rail station, with MARTA bus stop at entrance
  • The asset is 2.5 miles from the Westside Beltline trail, with easy sidewalk or spur trail access.
  • The “Beltline Effect” coupled with Opportunity Zone benefits are generating $2 billion in redevelopment projects within a three-mile radius of Overlook Ridge.
  • Rapid gentrification expands rental tenant pool as home prices in the surrounding neighborhoods of West End, Oakland City, Westview, and Adair Park have risen as much as 400% in the last three years.
  • Ten minutes on MARTA to Atlanta’s University Center with historic colleges including Clark Atlanta University, Morehouse College and Spelman College.
  • 15 minutes to Georgia World Congress Center, Mercedes-Benz Stadium and Downtown Atlanta.

To access more detailed information about this property such as the Offering Memorandum PDF or other documents please Log in or Register.

Contact Information

Walter Miller

Senior Managing Director

Cory Caroline Sams

Senior Director

Barden Brown

Senior Managing Director

Jim Jarrell

Senior Managing Director

Bo Brown

President and CEO