South Cobb Portfolio
490 Multifamily Units | Austell, Georgia Closed 11/17/19
Site Size: 39.9 Acres
- The South Cobb Portfolio is a desirably-sized combination of three adjacent properties with 490 units, which provides economies of scale for operations.
- The portfolio is located in Cobb County, which is popular for its high quality of life and sought-after school system.
- Over the last year, the South Cobb County/Douglasville multifamily submarket has seen annualized rental rates improve by 8.8% and annualized revenue change by 6.6%, which is the highest rent change in all of Metro Atlanta.
- Attractive architecture with pitched roofs, exterior entry, total-electric units, and attractive one-, two- and three-bedroom floorplans.
- Due to recent capital infusions and new management, many units have been brought back online and occupancy is expected to increase quickly over the coming months.
- The property has approximately 16 very hard turn units. These units will improve revenue when brought back to the rental pool.
- A new investor can quickly improve occupancy and performance of the portfolio with another capital infusion.
- Situated facing Riverside Parkway (9,800 vehicles per day) and I-20 (140,000 vehicles per day).
- Convenient to Six Flags Industrial Park, the massive Fulton Industrial Corridor, and Six Flags Over Georgia.