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3390 Fairburn Rd SW
33 Ninety · Multifamily Property For Sale
·
330 Units
INVESTMENT HIGHLIGHTS
33 Ninety is a 1976-built multifamily asset consisting of 330 units.
With a recent capital infusion of $7.6M+, the property is in excellent condition and is primed to continue its interior value add program
Proforma NOI is conservatively underwritten and no rent growth is assumed. 100% of rents underwritten have been achieved.
Property features a very attractive unit mix of 1-, 2- and 3-br units averaging 935 SF. 68% of the units are desirable 2- and 3- br floorplans
Opp to reno a total of 142 units. There are 87 classic units (26%) +55 lightly reno-ed units (17%), which are $75-300 below elite level achieved rates
The only proforma assumptions are in regard to taking to market occupancy and leveling accounts receivable.
PROPERTY FACTS
No. Units
330
Property Type
Multifamily
Property Subtype
Apartment
Apartment Style
Garden
Building Class
C
Lot Size
24.10 AC
Building Size
308,400 SF
Average Occupancy
55%
No. Stories
2
Year Built
1976
Parking Ratio
2.12/1,000 SF
Zoning
R3C
AMENITIES
UNIT AMENITIES
Air Conditioning Balcony Cable Ready Dishwasher
Disposal Microwave Washer/Dryer Washer/Dryer Hookup
Ceiling Fans High Speed Internet Access Refrigerator
Range Walk-In Closets Carpet
SITE AMENITIES
Business Center Clubhouse Fitness Center Laundry Facilities
Picnic Area Playground Pool
Property Manager on Site Tennis Court Gated
Basketball Court Laundry Service Pet Play Area
UNIT MIX INFORMATION
DESCRIPTION
NO. UNITS
AVG. RENT/MO
SF
1+1
104
$1,093
750
1+1.5
136
$1,183
900
3+2
90
$1,440
1,200
PROPERTY TAXES
Parcel Number
14F-0036-LL-044-2
Improvements Assessment
$6,820,200
Land Assessment
$1,156,800
Total Assessment
$7,977,000
