• Opportunity to Push Rent to Market

  Rents at East Ponce Village significantly trail market rents at competitors while also representing a loss-to-lease relative to the subject’s market rents. There is a significant upside opportunity to be captured through new leases and renewals.

• Opportunity to Increase Occupancy to Market

  Subject’s occupancy is below the competitive set’s average. An opportunity exists to create substantial value at East Ponce Village by driving occupancy and therefore increasing overall collections. By stabilizing East Ponce Village’s occupancy, we project additional annual revenue of more than $3.2MM. With the robust demand drivers and leasing traffic, a new owner will be able to lease-up the property by infusing capital into unit turns to make vacant units rent-ready and drafting off a revitalized marketing campaign from the new management company.

• Proven Value-Add

  Opportunity to renovate 378 (38.7%) classic units and 543 (55.6%) mid-level renovated units to the premium level and achieve $100-$150+ premiums.

• Substantial Capital Infusion

  Current ownership has invested $15,764,603 ($16,136/unit) into East Ponce Village in order to reinforce asset preservation, curb appeal, and enhance the resident experience. Major renovations include unit interiors, leasing office remodel, signage, painting, and more.

• Opportunity to Bifurcate Asset to Create Exit Optionality

  New ownership has the opportunity to separate the property into smaller individual assets which provides both management efficiencies and exit optionality

• Attractive Rent-to-Income Ratio

  AHI exceeding $80K within 3-miles. Current in-place rents ($1,082) accounts for only 16.1% of monthly AHI within a three-mile radius. AHI exceeds $80K within 3 miles and $90K within 5 miles.

• Spacious Unit Mix with Unique Villa and Loft-Style Floor Plans

  One- and two-bedroom units available, with 55% two-bedrooms averaging 1,040 SF. Additionally, 30.3% of units are villas and/or loft-style floor plans.

• Discount to Homeownership

  Monthly mortgage payment, taxes, and insurance ($2,873) for average value home in area ($387,145 within a three-mile radius) outpaces subject market rent ($1,243). With mortgage rates remaining elevated, renting continues to remain an attractive option for many residents within the submarket.

• Well-Positioned Asset

  East Ponce Village is situated in Tucker, GA, a vibrant suburb of Atlanta that provides convenient access to major highways I-285 and U.S. Route 78. The property is also near Stone Mountain Industrial Park, offering significant employment opportunities, and Stone Mountain Park, a major attraction with outdoor activities like hiking, biking, events, and festivals.

• Improving Collections through Recent State Legislation

  Recent legislative developments on the state level aid landlords in property management and operations. Most notably HB 1203 allows landlord to employ privatized setouts via approved off-duty law enforcement officers. A new owner of East Ponce Village will be able to draft off the new landlord-friendly legislation and grow net operating income through improved economic occupancy and collections.

Amenities