2060 alison ct sw atlanta...offering memorandum | brentwood alison court | ga 30311 | 59 feets...
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OFFERING MEMORANDUM OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 404.429.3621 03
TABLE OF CONTENTS
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 404.429.3621 05
PROPERTY PHOTOSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 404.429.3621 06
PROPERTY PHOTOSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 404.429.3621 07
INTERIOR PROPERTY PICTUREOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 330.0’
30.0’30.0’
30.0’
30.0’30.0’
58.0’
117.0’
117.0’
Bedroom
Bed
roo
m
Kitchen
Bath Livi
ng R
oo
m
TypicalUnit
117.0’
Bsmt / Storage
OFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 404.429.3621 13
PROFORMAOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
TotalActual
T3 AnnualizedActual
2019 P& L
Rent $432,000 $181,680 $153,588
Other income water $35,500 $35,500 $35,500
vacancy 3% -$12,960
Bad debt 1% -$4,320
Total Income: $450,220 $217,180 $189,088
Expences
Insurance $15,500 $15,500 $15,500
Property Management $12,000 $12,000 $12,000
Management salary $9,500 $9,500 $9,500
Office expences $2,500 $2,500 $2,500
supplies $4,800 $4,800 $4,800
Trash pick up $2,640 $2,640 $2,640
Utilities $30,500 $30,500 $30,500
Property Taxes $18,500 $18,500 $18,500
Repaires $5,200 $5,200 $5,200
Total Expences: $101,140 $101,140 $101,140
Net Operating Income: $349,080 $116,040 $87,948
Pro forma Value Less Cost to Repair 16 down units Price
6% 5818000 -320000 5498000
6.50% 5370462 -320000 5050462
7% 4986857 -320000 4666857
7.50% 4654400 -320000 4334400
8% 4363500 -320000 4043500
PERFORMA
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 404.429.3621 14
SOLD COMPARABLESOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
2045 Alison CT SW Atlanta | GA 30311
Brentwood Alison Ct. Sales Comparables
County Avg. Unit Size (SF)
1,000
1,239
1,019
642
800
660
1,055
916
Price / Unit
$53,879
$55,814
$54,087
$45,750
$49,432
$50,000
$49,064
$51,147
Yr. Built
1974
1970
1969
1930
1972
1960
1970
1,963.57
Units
232
86
209
19
88
20
324
140
Acres
24.82
8.72
10.01
0.61
4.61
1.88
10.90
8.79
Price / SF
$50.71
$47.00
$53.46
$70.67
$62.50
$55.69
$41.98
$54.57
Size (SF)
246,482
102,118
210,456
12,300
69,600
17,956
423,980
154,699
Sale Price
$12,500,000
$4,800,000
$11,250,000
$869,250
$4,350,000
$1,000,000
$17,800,000
Distance (Miles)
2.60
3.20
2.80
1.70
0.70
0.70
1.40
1.87
Address
2900 Landdrum Dr., SW Atlanta, GA 30311
3350 Mout Gilead Rd., Atlanta, GA 30311
3000 Continenetal Colony Pkwy., Atlanta, GA 30311
1728-1742 West Forrest Ave., East Point, GA 30344
2040 Stanton Rd., Atlanta, GA 30344
1940-1982 Stanton Rd. East Point, GA 30344
1994 Bent Creek Way, SW Atlanta, GA 30311
Property Name
Crystal at Cascade
Glenn Abbey
the park at greenbriar
The Dogwood
Stanton View Apts
Stanton View Apts
The Preserve At Bank Creek
Average
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 404.429.3621 15
RENT COMPARABLESOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311 | 59 Feets
Zillow Rent Index- 2 Bedrooms- 5 Years
Zillow Rent Index
$ 1.1 K
2019$ 743
201820172016
$ 1.5 K
$ 1.9 K
$1,730Atlanta
1.4 Breakeven horizon
$1800 Rent List Price
$1.53 Rent list price/sq ft
Atlanta $1,864/month
30331 $1,206/month
$1,569Atlanta- Sandy Springs Rosewell
$1,591United States
Bentwood Alison CT Apartment
Property Name/Address
Chez Moi
Townhomes at Hapeville
New Village Apartments
Franklin Village Apartments
Statan View
Aspen Court Apt.
Harmony Plaza
Bentwood Alison CT
Average
$ 0.87
$ 0.81
$ 0.79
$ 0.64
$0.81
$ 0.83
Rent/SF1BD
$690
$687
$658
$510
$665
$699
$651
$741
$750
$802
$677
$815
$800
$799
$650
$770
2BD
$899
$-
$899
3BD
700
815
800
856
Avg Units SF
831
905
1003
900
900
Units
28
34
64
72
48
Yr Built
1967
1962
1972
1964
1963
Distance
0.8
0.9
1.4
1.3
0.7
1.4
0.6
Ra�ng
1
2
2
2
2
2
2
16.46%<-Lower than Average
Paul Khansari | Associate Broker RE/MAX CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 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 CENTERpaulagent1@gmail.com 404.429.3621 19
3 MILES
5 MILES
2018 Summary 3 Miles 5 MilesPopulation 78,326 210,489
Households 31,779 82,445
Families 17,908 45,880
Average Household Size 2.43 2.45
Owner Occupied Housing Units 13,128 29,313
Renter Occupied Housing Units 18,652 53,132
Median Age 38.6 35.1
Average Household Income $51,258 $48,729
2023 Summary 3 Miles 5 MilesPopulation 80,775 218,199
Households 32,683 85,383
Families 18,491 47,643
Average Household Size 2.44 2.46
Owner Occupied Housing Units 14,069 31,923
Renter Occupied Housing Units 18,614 53,460
Median Age 39.7 36.0
Median AgeAverage Household Income $57,169 $54,456
Median Age
DEMOGRAPHICSOFFERING MEMORANDUM | Brentwood Alison Court | GA 30311
For more information contact:
Paul Khansari | Associate Broker RE/MAX CENTERJohns Creek, GA 30097-1541paulagent1@gmail.com 404.429.3621
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