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Preston Court Townhomes 878 Hospital Rd 10 Unit Apartment Building $2,200,000 ($220,000/Unit) Commerce, GA 30529
Executive Summary
We expect this unique BTR-style townhome asset to trade around $220k/unit, however, this is a fully marketed deal that will go through a formal CFO and bid matrix. Please do not call to ask if the price is negotiable, the highest offers will go to the Best and Final round.
AVAILABLE IN CONJUNCTION WITH PARK OAKS https://www.loopnet.com/Listing/100-202-Oak-Bluff-Dr-Athens-GA/40279133/
All DD/Financials are available for download from the Data room.
Commerce has one of the lowest housing supplies in all of GA due to strict zoning regulations. Additionally, Commerce is in the 2nd fastest growing county in GA and the 12th wealthiest.
Preston Court offers all 1,622 SF - 3BD/3BA – Townhome units. The subject’s floorplans are far larger than any workforce properties in the area, and our square footage is on par with the new BTR product in the market.
Third party management is already in place with a 7% management fee model. They do not charge payroll.
Preston Court
-Built: 2002
-Avg. Unit SF: 1,622
-Occupancy: 100%
-Most Recent Lease $101 Above In-Place (Without Renovation)
-Gated Community
-Trails 3BR BTR Product by $639
-Opportunity to Close BTR Gap with Renovations
AVAILABLE IN CONJUNCTION WITH PARK OAKS https://www.loopnet.com/Listing/100-202-Oak-Bluff-Dr-Athens-GA/40279133/
All DD/Financials are available for download from the Data room.
Commerce has one of the lowest housing supplies in all of GA due to strict zoning regulations. Additionally, Commerce is in the 2nd fastest growing county in GA and the 12th wealthiest.
Preston Court offers all 1,622 SF - 3BD/3BA – Townhome units. The subject’s floorplans are far larger than any workforce properties in the area, and our square footage is on par with the new BTR product in the market.
Third party management is already in place with a 7% management fee model. They do not charge payroll.
Preston Court
-Built: 2002
-Avg. Unit SF: 1,622
-Occupancy: 100%
-Most Recent Lease $101 Above In-Place (Without Renovation)
-Gated Community
-Trails 3BR BTR Product by $639
-Opportunity to Close BTR Gap with Renovations
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
Property Facts
| Price | $2,200,000 | Building Class | B |
| Price Per Unit | $220,000 | Lot Size | 2.00 AC |
| Sale Type | Investment | Building Size | 16,430 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 2002 |
| Apartment Style | Townhome | ||
| Zoning | RESIDENTIA | ||
| Price | $2,200,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 2.00 AC |
| Building Size | 16,430 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2002 |
| Zoning | RESIDENTIA |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 10 | $1,585 | 1,622 |
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Somewhat walkable
30/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 021-003C | Improvements Assessment | $527,200 |
| Land Assessment | $30,000 | Total Assessment | $557,200 |
Property Taxes
Parcel Number
021-003C
Land Assessment
$30,000
Improvements Assessment
$527,200
Total Assessment
$557,200
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Preston Court Townhomes | 878 Hospital Rd