Stonebrook Apartments

Property Description

Stonebrook is a 1988-built Cardinal-style multifamily asset consisting of 170 units.The property features a mix of one-, two-, three-, and four-bedroom units.Low-cost provider in the market attracts elderly residents with a below-market turnover rate.Smaller unit sizes provide efficiencies in expenses and higher rent per square foot.The subject is located on Norman Drive between W. Fayetteville Road (18,158 vehicles per day) and Riverdale Road (35,537 v.p.d.) providing residents quick access to I-285 (171,937 v.p.d.), which facilitates quick commutes to major metro employers.The subject is within close proximity to Chick-fil-A Headquarters, Airport, Cinema South Studios.Water Supply Lines have been replaced with durable, corrosion resistant pex piping Roughly 64 units were lightly updated between 2022 & 2023. Current leases reflect classic units and can be increased by continuing interior upgrades