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1204 Brockett Road | Clarkston GA 30021
PHOTO GALLERY
RICHARD LEVINE
Senior Managing Director
404.654.2590
Richard.Levine@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
John.Bray@berkadia.com
MORTGAGE BANKING
ANDREW MAYS
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
INVESTMENT SALES
CONTACT US
THE LOCATION
INVESTMENT HIGHLIGHTS
IAN SHAW
Associate Director
404.654.2347
Ian.Shaw@berkadia.com
PAUL VETTER
Senior Managing Director
404.445.1068
Paul.Vetter@berkadia.com
Photo Gallery
The Asset
The Opportunity
Doc Center
Privacy
Contact
Terms of Use
The Location
Fixed-Rate Agency Loan at 3.09%
Interest Only Period Runs through March 2029
Loan Balance at $14.01MM with Supplemental Availability
Attractive Assumable Debt
unit amenities
Newly Renovated Units*
Fully Equipped Kitchen
Black Appliances
Faux-Wood Flooring
Resurfaced Counter Tops
White Cabinetry
Sunroom
Fireplace*
Ceiling Fans
Walk-In Closets
Linen Closet
Washer and Dryer Connections
Patio or Balcony
COMMUNITY AMENITIES
Property Summary
Property Name Address City, State, Zip County Units Built Buildings Stories Density Site Acreage Total Rentable SF Average Unit SF Exterior Roof
Parking
Birch Run 1204 Brockett Road Clarkston, GA 30021 DeKalb 198 1983 23 Two- and Three-Story 10.63 Units Per Acre 18.62 231,550 1,169 Vinyl Siding Pitched - Composition Shingle 450 Spaces
THE ASSET
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
ATLANTA OFFICE
THREE ALLIANCE CENTER
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
713.974.T: 404.445.2600 | F: 404.445.1065
JOSH FINLEY
Managing Director
404.654.2594
Josh.Finley@berkadia.com
Clubhouse
Business Center
State of the Art Fitness Center
Swimming Pool
Tennis Court
Picnic and Grilling Area
Dog Park
Laundry Facilities
Visit Doc Center
1204 Brockett Road | Clarkston GA 30021
the asset
opportunity
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DOCUMENT CENTER
Judy MacManus
Managing Director 404.654.2074 Judy.Macmanus@berkadia.com
Matt White (LEAD)
Managing Director 404.445.1070 Matt.White@berkadia.com
Scott Bray (LEAD)
Managing Director 678.388.2507 Scott.Bray@berkadia.com
*Select Units
INVESTMENT HIGHLIGHTS
1204 Brockett Road | Clarkston GA 30021
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
RICHARD LEVINE
Senior Managing Director
404.654.2590
Richard.Levine@berkadia.com
JOHN BRAY
Senior Managing Director
404.654.2595
John.Bray@berkadia.com
JOSH FINLEY
Managing Director
404.654.2594
Josh.Finley@berkadia.com
MORTGAGE BANKING
IAN SHAW
Associate Director
404.654.2347
Ian.Shaw@berkadia.com
ANDREW MAYS
Senior Managing Director
404.445.1067
Andrew.Mays@berkadia.com
Judy MacManus
Managing Director 404.654.2074 Judy.Macmanus@berkadia.com
Matt White (LEAD)
Managing Director 404.445.1070 Matt.White@berkadia.com
Scott Bray (LEAD)
Managing Director 678.388.2507 Scott.Bray@berkadia.com
PAUL VETTER (LEAD)
Senior Managing Director
404.445.1068
Paul.Vetter@berkadia.com
INVESTMENT SALES
3550 Lenox Road, Suite 2600
Atlanta, GA 30326
713.974.T: 404.445.2600 | F: 404.445.1065
ATLANTA OFFICE
THREE ALLIANCE CENTER
CONTACT US
Opportunity to renovate 78 (39%) classic units and achieve $98+ premiums
PROVEN VALUE ADD
Recent CAPEX Spend Exceeds $5MM ($25K Per Unit)
Nearly $1MM for Completely Rebuilt Clubhouse with Fitness Center and Business Lounge
All Roofs Replaced with Architectural Shingle in 2018
Recent CAPEX Projects Prime Asset for Elevated Value-Add Upside
Competitors’ rents outpace subject’s average in-place rent by $312
OPPORTUNITY TO PUSH RENTS TO MARKET
Average Household Income Exceeds $87K
Population Exceeds $250K with 9.5% Growth Since 2010
69% Employed in White-Collar Jobs
$563K Average Housing Unit Value
STRONG WORKFORCE HOUSING DEMOS (5-MILE RADIUS)
100% Two-Bedroom Units Averaging 1,169 Square Feet
Enclosed Sunrooms and Full-Size Washer/Dryer Connections in All Units
HIGHLY MARKETABLE UNIT MIX
Monthly mortgage payments ($3,277) for average-value homes in the area outpace Birch Run market rent ($1,355)
DISCOUNT TO HOMEOWNERSHIP
HB 1203 was signed by Governor Kemp on April 24, 2024
Authorizes off-duty officers to supervise evictions and the execution of writs of possession within their jurisdictions
HB 1079 was unanimously approved by Both GA House and GA Senate
Instead of a months-long legal battle, the squatters would have three days to show a lease or anything that proves they are allowed to be there
DeKalb County commissioners voted unanimously in September 2023 to approve an additional $1.1MM in funding to tackle court and eviction backlogs which have expedited setout timeframes significantly
LANDLORD LEGISLATION