The Reserve at Carrollton
Carrollton, GA
Building
Summary
- Offering Price Determined by Market
- Number of Units/Bedrooms 168 / 492
- Year Built 2006
- Average Unit Size 1,175 SF per Unit
- Site Size 17.93 Acres
- Occupancy 55% (76% on Available Units)
HIGHLIGHTS
- The Reserve is a 2006-built Class-A asset consisting of 168 units.
- The property offers desirable construction elements including brick and Hardie Plank siding exteriors, and total electric utilities.
- Located in Carroll County which has highest YoY rent growth in Atlanta MSA, as reported by CoStar.
- Opportunity to re-stabilize physical occupancy, currently at 55%, by bringing online the 48 offline units. The Carrollton multifamily occupancy remains strong at 93.5%, as reported by CoStar.
- Offered well below replacement cost.
- Enrollment at University of West Georgia has increased by 11.4% YoY
- The asset boasts a superior amenity package including two swimming pools, fitness center, game room, study rooms, grilling area, firepit, and controlled access gate.
- 95% classic interiors provides upside in renovating interiors with proven $150-$250 premiums by similar vintage nearby properties.
- Opportunity to convert from student housing to market rate.
- Conveniently located within a quarter of a mile from the University of West Georgia and the only property with a dedicated bridge connecting to campus.
- Walking distance to Carrollton Greenbelt – the largest green space and green way conservation project in the city.
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