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Eagleton Affordable Portfolio

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Address: 903 Hays Mill Rd, Carrollton, GA 30116, USA

Atlanta & Southeast + Apartment Buildings

Created date: June 23, 2024

Date last updated: September 20, 2024

Property Description

In place renewal increases of $50 will add $50,000 of rental income this year Recently established new leases are $190 and $161 higher than in-place rents proving ability to add over $300,000 in additional incomeWell located on desirable SW side of Carrollton close to $1M homes and retail including Walmart, Home Depot, Chick-fil-a, etc. Properties are close in proximity offering shared expenses. Property 1 – Hays Mill CourtBuilt in 2003 with Institutional Aesthetics62 one- and two-bedroom units and 1 office 49 units are restricted to 60% AMI rent and income Limits. 13 Units are market rate.Estimated Restriction Expiration 2034/2035Property 2 - Eagle’s Nest Built in Two Phases – Phase I: 38 units built in 1996 ; Phase II: 50 units built in 199987 One- and two-bedroom units and 1 office unitPhase I - All units restricted to 46% AMI Rent and Income LimitsPhase II - 29 units @ 60% AMI and 21 units @ 50% AMI. Also age restricted to 62+Estimated LURC expiration: Phase I 2026; Phase II 2030

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Key Property Information

Listing Status:	Unavailable
Listing Type:	Call for offers
Property Types:	Apartment Buildings
No. of Units:	151
Lot Size:	113,122.00 Sq ft
Opportunity Zone:	No
Property Website	Click Here