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2354 Pine Cove Cir
Gainesville, GA 30504
Pines of Lanier Apartments · Multifamily Property For Sale
·
157 Units
PROPERTY FACTS
| No. Units | 157 | Building Size | 87,003 SF |
| Property Type | Multifamily | Average Occupancy | 96% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1985 |
| Building Class | C | Parking Ratio | 3.45/1,000 SF |
| Lot Size | 8.09 AC | ||
| Zoning | L-I | ||
| No. Units | 157 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.09 AC |
| Building Size | 87,003 SF |
| Average Occupancy | 96% |
| No. Stories | 2 |
| Year Built | 1985 |
| Parking Ratio | 3.45/1,000 SF |
| Zoning | L-I |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Disposal
- Heating
- Tile Floors
- Double Vanities
- Eat-in Kitchen
- Refrigerator
- Range
- Tub/Shower
- Sunroom
SITE AMENITIES
- Laundry Facilities
- Property Manager on Site
- Car Wash Area
- Online Services
ABOUT 2354 PINE COVE CIR , GAINESVILLE, GA 30504
For detailed information visit our website at: www.brownra.com Well-maintained community built in 1985 features pitched roofs (mostly replaced in 2011) and total electric utilities. Historical statements demonstrate the asset enjoys a unique combination of high rent per square foot but low expenses. $77,000 Loss To Lease is shown on the rent roll. All renewals are being taken to 100% of market rent and will result in quick loss to lease reduction. Eleven units have been renovated and are receiving $100 premiums. Rapidly-expanding Hall County ranks among nation’s Top 50 highest-growth counties, with population up 42% since 2000. Location on west Gainesville’s major artery, Browns Bridge Road, exposes property to 22,000 vehicles per day. Located within three miles of major employment hubs such as Brenau University, Northeast Georgia Medical Center, the downtown business district, the airport, and the main retail area. Consistent performer with high occupancy over past several years. Low vacancy submarket across all rental competitors. Rents increased by $20 in December 2017. Asset available for all cash or by loan assumption.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 7 | - | 363 |
| 1+1 | 102 | - | 509 - 551 |
| 2+1 | 48 | - | 653 |
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $6,358,925 | |
| Land Assessment | $41,077 | Total Assessment | $6,400,002 |
PROPERTY TAXES
