A 230-Unit Multifamily Asset | Atlanta, Georgia
Year Built / Renovated: 2004 / N/A
Number of Units: 230 Units
Average Square Feet: 1,089 SF
Total Square Feet: 250,678 SF
Site Size / Density: 13.6 Acres; 16.9 Units per Acre Parking: Ample
- Nine-foot Ceilings
- Fully-equipped Kitchen
- Stainless Steel Appliances*
- Faux Granite Countertops
- Frost-free Refrigerator with Icemaker
- Open Breakfast Bar
- Separate Dining Area
- 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)
- Clubhouse/Leasing Office
- Controlled Access Gate
- Swimming Pool
- Fitness Center
- Resident Business Center
- Laundry Center
- Mail Kiosk
- On Bus Line
- 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.