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Ridgewood Apartments

A 52-Unit Multifamily Asset | Lawrenceville, Georgia


Property Highlights:

Year Built / Renovated: 1972 / N/A
Number of Units: 52 Units
Average Square Feet: 833 SF
Total Square Feet: 43,332 SF

Site Details

Site Size / Density: 7.3 Acres; 7.2 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Frost-free Refrigerator
  • Pantry*
  • Faux Wood Vinyl Flooring
  • Walk-in Closet(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Leasing Office
  • Playground
  • Laundry Facility
  • Open Sports Field
  • Mail Kiosk
  • On Bus Line

Investment Highlights:

  • Ridgewood Apartments, which was built in 1972, offers solid architectural bones with low-maintenance brick exteriors and new roofs with composition shingles.
  • Diverse mix of one-, two- and three-bedroom units.
  • Asset remains highly occupied at all times with little bad debt
  • $150 rent premiums available through interior value-add program
  • While the property has existing 52 units, it is zoned for 87 units. A new owner has the potential to build 35 additional garden-style units or lower density townhomes (at 8 units to the acre for townhomes), according to Lawrenceville City Planners.
  • According to the Q4 2020 RealPage report, the Northeast Gwinnett County submarket shows an average occupancy of 97% and monthly rent of $1,310, indicating a strong demand for rental properties. Additionally, the Northeast Gwinnett County submarket saw a +6.9% annual revenue increase.
  • Located half a mile south of Highway 316 (77,300 vehicles per day); 3.5 miles east of Sugarloaf Parkway (34,400 v.p.d); and 5.5 miles east of I-85 (148,000 v.p.d.), which directly links residents to downtown Atlanta, Hartsfield Airport, and major job hubs.
  • Within walking distance of a Walmart Supercenter, and within close proximity to Home Depot, Target, and a Publix-anchored shopping center.

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

Contact Information


Taylor Brown

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

Chandler Brown

Director, Multifamily Sales and Lending
678-894-2225
chandler@brownra.com