• Opportunity to Push Rent to Market

  Competitors’ rents outpace subject’s in-place rents by $287+

• Opportunity to Increase Occupancy to Market

  Subject’s occupancy is below the competitive set’s average. An opportunity exists to create substantial value at Mountain Place by driving occupancy and therefore increasing overall collections. By stabilizing Mountain Place’s occupancy, we project additional annual revenue of more than $610K.

• Located in Qualified Opportunity Zone

  Federally Designated Qualified Opportunity Zone provides new ownership with several avenues for preferential tax treatment.

• Proven Value-Add

  Opportunity to renovate 86 (51.2%) classic units and 47 (28.0%) updated units to the premium level and achieve $155+ premiums.

• Attractive Rent-to-Income Ratio

  Current in-place rents ($1,184) accounts for only 18.7% of monthly AHI within a three-mile radius. AHI exceeds $75K within 3 miles and $90K within 5 miles.

• Spacious Unit Mix

  One-, two, and three-bedroom floorplans available with 86.3% two- and three bedrooms averaging 1,235 SF. Additionally, 32.8% of units are townhomes.

• Discount to Homeownership

  Monthly mortgage payment, taxes, and insurance ($3,084) for average value home in area outpaces subject’s market rent ($1,212). With mortgage rates remaining elevated, renting continues to remain an attractive option for many residents within the submarket.

• Well-Positioned Asset

  Mountain Place is situated in Stone Mountain, 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 Mountain Place will be able to draft off the new landlord-friendly legislation and grow net operating income through improved economic occupancy and collections.

Amenities