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Park View

100 Units • Built in 1994


Property Highlights:

Year Built / Renovated: 1994 / N/A
Number of Units: 100 Units
Average Square Feet: 960 SF
Total Square Feet: 96,080 SF

Site Details

Site Size / Density: 10 Acres; 10 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Built-in Microwave
  • Washer/Dryer Connections
  • Laundry/Utility Room*
  • Faux Wood Vinyl Flooring*
  • Walk-in Closet(s)
  • Six-panel Interior Doors
  • Ceiling Fan(s)
  • Window Blinds
  • (* In select units)

Community Amenities

  • Clubhouse/Leasing Office
  • Swimming Pool
  • Fitness Center
  • Playground
  • Laundry Center
  • Picnic Area
  • Daycare
  • Mail Kiosk

Investment Highlights:

  • Park View is a 1994-built market rate multifamily asset that benefits from pride of ownership, featuring solid architectural bones and strong curb appeal.
  • Mix of one-, two-, and three-bedroom garden-style floorplans averaging 961 SF. 90% of units are two- and three-bedroom floorplans. All units feature washer/dryer connections.
  • Rent comparables prove the ability to renovate all interiors and potentially receive an additional $260-$410 in rent.
  • The property is well amenitized with the opportunity to add additional amenities.
  • The Newton County Submarket’s current year-over-year rent growth is 17.3%, with a projected quarterly average of 14.2% over the next 12 months (Costar).”
  • Newton County boasts strong rent growth and low vacancy. According to RealPage, the asset is located in the Far East Atlanta Suburbs submarket which experienced 13% annualized rent change and 14.3% annualized revenue change as of Q2 2021.
  • Within a 3-mile radius the median household income is $51,057 and the median owner occupied housing value is over $185,000, according to Environomics Analytics.
  • Recent economic developments include Facebook Data Center, $100M Lidl distribution center and regional HQ, 3 Ring Studios $100M development, Covington Town Center mixed-use development, and Cedar Shoals 257-acre mixeduse development.

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

Contact Information


Mack Leath

Director
404-909-5171
mack@brownra.com

Barden Brown

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