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OFFERING MEMORANDUM OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621
This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of Brentwood Alison Court | GA 30311 (the “Property”).
This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner and REMAX Center. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.
Neither the Owner or REMAX Center, nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the REMAX Center. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Owner or REMAX Center.
If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to REMAX Center.
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 02
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
CONFIDENTIALITY AGREEMENTOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Property Summary
Photos
INTERIOR PROPERTY PICTURE
REGIONAL MAP
Site Plan
Floor Plans
Financials
Market Overview
Demographics
4
5
7
8
9
11
13
16
18
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 03
TABLE OF CONTENTS
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 04
PROPERTY SUMMARY
Paul Khansari with REMAX Center has been retained as the exclusive marketing advisor in the sale of Brentwood Alison CT, a 48-unit repositioning opportunity located at 2060 Alison CT SW in Atlanta, Georgia 30311. Completed in 1963, the property is well-positioned off US Hwy (154/166) within minutes of bustling downtown Atlanta.
ADDRESS 2060 Allison CT SW Atlanta GA 30311
YEAR BUILT 1963
NUMBER OF UNITS 48
BUILDINGS 6
BUILDING SIZE 44256 Sq.Ft.
SITE SIZE (Acres) 2.05
PARCEL ID NUMBER 14-0167-0004-012-1
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 05
PROPERTY PHOTOSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 06
PROPERTY PHOTOSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 07
INTERIOR PROPERTY PICTUREOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 08
REGIONAL MAP OF PROPERTY
DOWNTOWNATLANTA
AirportAirport
PROPERTY
DISTANCE TO:
Downtown Atlanta..................... 6 MILESAtlanta Aiport.............................. 6. MILESEast Point Transit Station.......... 2.2 MILESI-85................................................. 1 MILE
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 09
PARCEL MAP
Alison Ct SW
Myrtle D
r SW
PROPERTYPROPERTY
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 10
HIGHLIGHTS / AMENITIES
HIGHLIGHTS:
A great Value-Add investment in a sub-market positioned for rapid development due to Atlanta BeltLine Strategic Implementation Plan.
Conveniently located just few minutes from I-85/75 interchange.
Within walking distance to Marta buses.
Within 5 Mile radius from Atlanta International Airport
Within 6 Mile radius of GA State University, GA Tech, Capital Building, Court House and Fulton County Government system
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
COMMUNITY AMENITIES:
Leasing office
Potential laundry room area
Ceramic tile tub surrounds
Window blinds
Tile floor on remodled units
Separate dining room area
All kitchens equipped with stove and fridge
Fenced Property
Mature landscaping
Security Camera
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 11
FLOOR PLANSA-B-C-D 1st Level
A-B-C-D 2nd Level
Total Size44,256
Unit 6Unit 5Unit 2Unit 1
Unit 8Unit 7Unit 4Unit 3 30.0’
30.0’30.0’
30.0’
30.0’30.0’
58.0’
117.0’
117.0’
Bedroom
Bedr
oom
Kitchen
Bath Livi
ng R
oom
TypicalUnit
117.0’
Bsmt / Storage
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 12
FLOOR PLANSE 1st Level
Unit 2Unit 1
Unit 4Unit 3
Unit 10
Unit 12Unit 11Unit 8Unit 7Unit 4Unit 3
Unit 9Unit 6Unit 5Unit 2Unit 1
30.0’
117.0’
117.0’
117.0’
117.0’
30.0’
30.0’
30.0’
F 1st Level
F 2nd Level
E 2nd Level
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 13
PROFORMAOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Total Actual6 MONTH 2020 P&L
Actual2019 P&L
Rent = 48 x 750 x 12 = $432,000 $129,000 $153,588
Other income water $28,800 $14,400 $28,800
vacancy 3% -$12,960
Bad debt 1% -$4,320
Total Income: $443,520 $143,400 $182,388
Expences
Insurance $15,500 $7,750
$6,000
$4,750
$1,250
$2,400
$1,320
$15,250
$9,250
$2,600
$50,570
$185,660
$15,500
Property Management $12,000 $12,000
Management salary $9,500 $9,500
Office expences $2,500 $2,500
Supplies $4,800 $4,800
Trash pick up $2,640 $2,640
Utilities $30,500 $30,500
Property Taxes $18,500 $18,500
Repaires $5,200 $5,200
Total Expences: $101,140 $101,140
Net Operating Income: $342,380 $81,248
Pro forma Value Less Cost to Repair 8 down units Price
6% +$5,710,000
+$5,300,000
+$4,891,000
+$4,565,000
+$4,280,000
-$160,000
-$160,000
-$160,000
-$160,000
-$160,000
=$5,550,000
=$5,140,000
=$4,731,000
=$4,405,000
=$4,120,000
6.50%
7%
7.50%
8%
PERFORMA
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 14
SALES COMPARABLESOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
2045 Alison CT SW Atlanta | GA 30311
Brentwood Alison Ct. Sales Comparables
Year Built Date Sold Units Amount Sold Price / UnitDistance from Subject
(Miles)AddressComplex
Briar House
College St
Rugby Ave
Griffin Stuart Apts
Cascade Oaks
Elm St
Peaks at West Atlanta
Average
2604 Campbelton Rd SW
3300 College St
1729 Rugby Ave
20 Griffin St Atlanta GA
3820 Old Cascade Rd Atlanta
260 Elm Street NW Atlanta
1212 James Jackson Pkwy Atlanta GA
1967
1960
1969
1961
1968
1965
2002
11/10/2019
04/10/2018
02/20/2019
10/01/2018
01/01/2020
11/01/2017
12/01/2018
26
20
12
13
113
8
214
1
2.3
2.4
5.5
5.8
6.4
7.7
$2,062,500
$1,400,000
$800,000
$940,000
$8,300,000
$636,000
$17,000,000
$79,326
$70,000
$66,666
$72,307
$73,451
$79,500
$79,439
$74,385
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 15
RENT COMPARABLESOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
2045 Alison CT SW Atlanta | GA 30311Property Name Address
The Life at Greenbriar
Castleton Apartments
The Park at Catleton
Vesta Adams Park
Harmony Plaza Apartments
Chatin Woods
1890 Adam House Apartments
Aspen Courts Apartments
Stanton View
Average
Brentwood Alison Ct.
2909 Campleton Rd SW, Atlanta GA 30311
2102 Bent Creek Way SW, Atlanta GA 30311
1994 Bent Creek Way SW, Atlanta GA 30311
1991 Delowe Dr SW, Atlanta GA 30311
1871 Plaza Lane SW, Atlanta GA 30311
2909 Landrum Dr SW, Atlanta GA 30311
2280 Campbelton Rd SW, Atlanta GA 30311
1631 Stanton Rd SW, Atlanta GA 30311
2040 Stanton Rd SW, Atlanta GA 30311
**
2060 Alison Ct SW, Atlanta GA 30311
926
899
1182
1005
964
1203
925
757
759
942
800
$845
$860
$884
$769
$850
$840
$665
$816
$909
$995
$1,000
$909
$849
$975
$950
$825
$834
$916
$808
$961
$1,200
$1,254
$950
$1,075
$1,088
$0.98
$1.05
$1.86
$1.01
$0.88
$0.81
$0.96
$0.98
$1.10
$1.06
$0.88
29.30% Less than 2BR AVG** Please note that 942 SF is an average of all units (1BR/2BR/3BR). Property has only 2BR apartments.
2.1
1.2
1.3
0.1
0.7
2.3
1
1.4
0.7
15% Less than 2BR AVG
Avg Unit (SF)Distance from Subject
(Miles)1 Bed 2 Bed 3 Bed Rent/SF
Brentwood Alison Ct. Rent Comparables
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 16
MARKET OVERVIEW
Downtown Atlanta Just 7 Miles Away
Fulton County is in the throes of two major developments: Aerotropolis and the redevelopment of Fort McPherson. Both developments will enhance Fulton’s economic landscape by generating white- and blue-collar jobs, and, as a byproduct, expanding development opportunities, retail and restaurant sites, and small business ventures in the area for years to come.
Fulton County is home to Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport and a major passenger and shipping hub, Porsche Cars of North America, Delta Airlines, Chick fil-A, Inc., Atlanta Metro Studios, Tyler Perry Studios, EUE/Screen Gems Movie Studios, Christian City, Georgia Science and Technology Park at Fort McPherson that includes a 488 acre redevelopment that will house an international center of innovation and knowledge in bio-science research.
The Georgia International Convention Center, Georgia’s second largest convention center, is located just miles from the airport and is proven to be a high-demand destination for large meetings and conferences.
Woodward Academy, the nation’s largest independent school and a renowned educational facility, has been serving students since 1900 and is located on a 75-acre campus in Fulton. We are also home to Arlington Christian Academy and Landmark Christian Academy. South Fulton proudly boasts of being home to the Fairburn campuses of both Georgia Military College and Brenau College.
Fulton is one of the safest major communities in the Atlanta area boasting a phenomenal list of assets that include serene sights and destinations as well as celebrated restaurants and lively city centers.
MARKET OVERVIEW FULTONOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 17
MARKET OVERVIEW FULTON
Covering more than 300 square miles, Fulton contains a unique mix of urban and suburban. It is the second-largest of Atlanta’s apartment submarkets in terms of inventory, but due to the lower median household income, about 54% of the projects here are 1 & 2 Star assets, compared with a 20% share for Atlanta as a whole. As renter interest has returned to the urban core, this submarket has seen a flurry of renovation projects, which has pushed vacancy higher as construction moves in. More than 3,000 units are currently under renovation, more than making up for limited ground-up construction.
Porsche Cars North America (PCNA), the first business to commit to Aerotropolis, is locating its U.S. headquarters on approximately 26 acres of the site, encompassing approximately 120,000-square-feet and housing up to 450 employees.
In addition: 488-acre Fort McPherson will be turned into Science Park, Employment Center and Live, Work, Learn and Play community containing 3.5 million-square-feet of labs and office space, 1,747 units of residential development, and a campus-style collaborative environment.
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Bars show deviation from
Fulton CountyPaul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 18
5 MILE DEMOGRAPHICSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
KEY FACTS
212,428Population
35.4
Median Age
2.5
Average Household Size
$34,232Median Household
Income
INCOME
$34,232Median Household
Income
$20,012Per Capita Income
$14,821Median Net Worth
BUSINESS
7,188Total Businesses
102,701Total Employees
EMPLOYMENT
57%White Collar
20%Blue Collar
23%Services
9.8%
Paul Khansari | Associate Broker RE/MAX [email protected] 404.429.3621 19
3 MILES
5 MILES
2020 Summary 3 Miles 5 MilesPopulation 78,493 210,354
Households 31,932 82,626
Families 17,994 42,024
Average Household Size 2.42 2.44
Owner Occupied Housing Units 14,887 34,280
Renter Occupied Housing Units 17,045 48,346
Median Age 38.8 35.5
Average Household Income $55,632 $54,729
2025 Summary 3 Miles 5 MilesPopulation 80,861 219,610
Households 32,940 86,425
Families 18,593 48,163
Average Household Size 2.42 2.44
Owner Occupied Housing Units 15,400 35,795
Renter Occupied Housing Units 17,540 50,630
Median Age 39.7 36.2
Median AgeAverage Household Income $61,834 $60,760
Median Age
DEMOGRAPHICSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
For more information contact:Paul Khansari | Associate Broker RE/MAX CENTERJohns Creek, GA [email protected] 404.429.3621