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Pines of Lanier

157-Units, Gainesville, GA

Property Highlights:

Year Built / Renovated: 1985 / 2020
Number of Units: 157 Units
Average Square Feet: 554 SF
Total Square Feet: 87,015 SF

Site Details

Site Size / Density: 8.8 Acres; 17.8 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Open Breakfast Bar*
  • Patio/Balcony*
  • Washer/Dryer Connections*
  • Ceramic Tile Flooring*
  • Faux Wood Vinyl Flooring
  • Loft-Style Floorplans*
  • Vaulted Ceiling*
  • Ceiling Fan(s)
  • Window Blinds
  • (* In select units)

Community Amenities

  • Leasing Office
  • Swimming Pool with Sundeck
  • Fitness Center
  • Playground
  • Laundry Center
  • Picnic Area with Grills
  • Valet Trash
  • Mail Kiosk
  • On Bus Line

Investment Highlights:

  • Well-maintained community built in 1985 features pitched roofs and total electric utilities.
  • Average in-place rent is $670, which is $101 less than the average recent leases of $771.
  • The current owner has renovated 23 units (14.5% of units), therefore there are 134 classic units (85.5%) for a new owner to renovate.
  • Within a 5-mile radius of the asset, the average household income is $80,552 and the median housing value is over $200,000.
  • Rapidly-expanding Hall County ranks among nation’s Top 50 highest-growth counties, with population up 48% since 2000.
  • According to CoStar, the Gainesville multifamily submarket is projected to experience 15-20% YOY rent growth through mid-2022.
  • Location on west Gainesville’s major artery, Browns Bridge Road, exposes property to 28,500 vehicles per day.
  • Located within three miles of major employment hubs such as Brenau University, Northeast Georgia Medical Center, the downtown business district, the airport, and the main retail area.
  • Consistent performer with high occupancy over past several years.
  • The 2020 Milken Institute Report named the Gainesville-Hall County Metro Area as the Top Small Metro Area in Georgia and #8 in the Nation for Best-Performing Small Metros.

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Contact Information

Barden Brown

Senior Managing Director

Taylor Brown

Managing Director

Bo Brown

President and CEO