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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.

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

Contact Information


Barden Brown

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

Taylor Brown

Managing Director
678-894-2219
taylor@brownra.com

Bo Brown

President and CEO
678-894-2216