Pines of Lanier
157-Units, Gainesville, GA
Year Built / Renovated: 1985 / 2020
Number of Units: 157 Units
Average Square Feet: 554 SF
Total Square Feet: 87,015 SF
Site Size / Density: 8.8 Acres; 17.8 Units per Acre Parking: Ample
- Fully-equipped Kitchen
- Frost-free Refrigerator
- Open Breakfast Bar*
- Washer/Dryer Connections*
- Ceramic Tile Flooring*
- Faux Wood Vinyl Flooring
- Loft-Style Floorplans*
- Vaulted Ceiling*
- Ceiling Fan(s)
- Window Blinds
- (* In select units)
- Leasing Office
- Swimming Pool with Sundeck
- Fitness Center
- Laundry Center
- Picnic Area with Grills
- Valet Trash
- Mail Kiosk
- On Bus Line
- 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.