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Silver Springs Townhomes

A 70-Unit Multifamily Asset | Jonesboro, Georgia


Property Highlights:

Year Built / Renovated: 1969 / N/A
Number of Units: 70 Units
Average Square Feet: 1,197 SF
Total Square Feet: 83,792 SF

Site Details

Site Size / Density: 5.8 Acres; 12.1 Units per Acre Parking: Ample

Unit Features

  • Fully-equipped Kitchen
  • Separate Dining Area
  • Patio
  • Walk-in Closet in Master*
  • Faux Wood Vinyl Flooring*
  • Ceramic Tile Tub Surround*
  • Total Electric
  • Ceiling Fan(s)*
  • Window Blinds
  • (* In select units)

Community Amenities

  • Leasing Office
  • Swimming Pool (Offline)
  • Outdoor Grilling Area
  • Laundry Facility
  • Playground
  • Mail Kiosk
  • Mature Landscaping
  • On Bus Line

Investment Highlights:

  • Silver Springs is a 100% townhome asset featuring durable brick exteriors with aluminum siding accents.
  • The community consists entirely of two- and three-bedroom floorplans and is total electric.
  • All underground supply lines were replaced in June 2018. Further reduction in water expense is possible through installation of low flow toilets, showerheads and aerators on the faucets.
  • The scheduled rent on the rent roll currently averages $653/month and $698/month for the two- and three-bedroom units, respectively. New leases at $710 and $820 would allow a new owner to increase collections by simply “cycling through the rent roll.”
  • The amenity package includes a clubhouse/leasing office, fully gated community, laundry center, playground, and swimming pool.
  • It is located along highly-traveled Mount Zion Road, exposing the property to 16,300 vehicles per day. Mount Zion Road is a frequented east/west connection between U.S. 41/Tara Blvd. (69,000 v.p.d.) and Jonesboro Road (41,500 v.p.d.), two significant Southside employment and retail corridors.
  • Hartsfield Jackson Atlanta International Airport, which is only five miles northwest of Silver Springs, is the leading economic driver in Clayton County and Georgia’s largest employment center with more than 64,000 employees.
  • Silver Springs’ residents are less than a mile from the primary retail corridor in Clayton County. Southlake Mall is a regional center offering more than one million square feet of retail space. The mall is anchored by Macy’s and boasts more than 90 additional shops and eateries. Peripheral big-box retail development near the mall is substantial and is a major source of employment for the area.

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Contact Information


Taylor Brown

Director - Multifamily Sales and Lending
678-894-2219
taylor@brownra.com

Chandler Brown

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

Bo Brown

President and CEO