5771 Trammell Rd
Morrow, GA 30260
Regal Forest Apartments · Multifamily Property For Sale · 116 Units

Minutes south of Downtown, this suburban community has one of Atlanta’s largest employment nodes, Hartsfield-Jackson Atlanta International Airport. Further, the surging logistics industry is creating a lot of trade and warehousing jobs around the airport during this economic expansion. Given these two economic drivers, Clayton County has been a good story for apartment demand the last three years. As one of the last affordable inner-ring submarkets, Clayton County has seen vacancies drop below both historical and metro averages. Average rent growth has been close to 8% in each of the last three years; the highest of Atlanta's large submarkets. Despite rapidly rising rents, demand here struggles to justify new build construction, and the last delivery with at least 100 units was in 2005. However, developers have been busy with renovations, with nearly 8% of the submarket's unit receiving a facelift. With strong fundamentals, investors have flocked to the submarket, with 18Q2 setting new volume records. Investors have been attracted to the large supply of value-add properties that can push rents with renovation work. With the median unit coming to market 45 years ago, unit pricing is still less than half the metro average, although pricing growth is jumping 20% per year since 2014. And with more than a quarter of the existing stock trading hands in 2017, untouched properties may be harder to come by going forward.