-The Life at Harrington Park is a desirably-sized property consisting of 155 townhome units, which provides economies of scale for operations.
-The property is 100% one-, two- and three-bedroom townhomes that average 1,193 SF.
-Attractive architecture with brick and vinyl exteriors, pitched roofs, total electric units, and washer/dryer connections in all two- and three-bedroom floorplans.
-Opportunity to steadily burn off loss-to-lease and significantly boost collections by $178,000 per year without considering future upgrades.
-Twenty upgraded units are achieving approximately $145 and $160 premiums for the two- and three-bedroom floorplans, respectively.
-In the coming months it is expected the NIP (Noise Insulation Program) will renovate the property with insulation, windows, entry doors, and sliding glass doors. A new owner will benefit from this estimated $4,000/unit renovation through future capital needs as well as curb appeal.
-Located just off Camp Creek Parkway and 4 minutes away from the world’s busiest airport, Hartsfield-Jackson Atlanta International Airport, who is one of the largest employers in the state (64,000 employees) and is undergoing $330 million renovation.
-Three-minute drive to recently announced “Airport City”, a 320-acre site on Camp Creek Parkway consisting of a $700 million redevelopment.
-Recent activity has spurred the City of College Park to expand Camp Creek Parkway and upgrade the interchange at I-285.
-Rent growth in the South Atlanta submarket of nearly 8% according to RealPage
