offering memorandum - loopnet · 2018. 12. 20. · offering summary interest offered marcus &...

O F F E R I N G M E M O R A N D U M

NON-ENDORSEMENT AND DISCLAIMER NOTICE

Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It

is intended to be reviewed only by the party receiving it from Marcus &Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial

condition or business prospects of any tenant, or any tenant’s plans or intentions tocontinue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from

sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these

matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.

© 2018 Marcus & Millichap. All rights reserved.

NON-ENDORSEMENT NOTICEMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to

indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely

included for the purpose of providing tenant lessee information about this listing to prospective customers.

ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.

Offices throughout the U.S. and Canada

DAN McBURNEYSenior Associate,

Member - National Multi Housing GroupAtlanta Office

Office: [email protected]

FL SL3098262, GA 368233

RAY WRIGHTAssociate

Member - National Multi Housing Group AtlantaOffice: 678.808-2700Cell: 770-330-0200

[email protected] 376628

PRESENTED BY:

01EXECUTIVESUMMARYThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap

S E C T I O N

OFFERING SUMMARYINTEREST OFFEREDMarcus & Millichap has been selected to exclusively market for sale Majestic Park, a 298-unit apartment community in Fulton County, Georgia. Constructed in 1968, the property represents a true-value add opportunity to finish upgrading individual units and complete the current stabilization of approximately 260 fully renovated units.

PROPERTY TOURSProspective purchasers are encouraged to visit the subject property prior to submitting offers. However, all property tours must be arranged with the Marcus & Millichap listing agents. At no time shall the tenants, on-site management or staff be contacted without prior approval.

VITAL DATALocation 1991 Delowe Drive SW, Atlanta, GA 30311

Asset Type Multifamily

Lot Size 25.97 Acres

No. of Buildings 25

Year Built 1968

Year Renovated 2018

Location Class C+

CALL FOR OFFERSMajestic Park is being offered Unpriced with a Call for Offers during a four week marketing / touring period. All bidders will be required to tour the property before submitting a Letter of Intent.

All offers should include proof of funds for down payment capital as well as an investor profile.

2[ ]

INVESTMENT OVERVIEW

Majestic Park Apartments is convenient to downtown Atlanta, shop-ping, dining, I-285, I-75 and I-85, Hartsfield International Airport, and Greenbrier Mall. The community offers controlled access, a picnic area, and a sparkling swimming pool. Spacious one-, two-, and three-bedroom apartment homes feature fully equipped kitchens, a private patio, and are cable-ready. Select apartments also provide a washer/dryer in your apartment home.

Majestic Park includes outside storage, semi-private entryways, select units include private balconies with full size washer/ dryer hookups in townhouse units. Majestic Park has a unit mix of one and two story units with pitched shingle roofs, 325 parking spaces.

Nearby neighborhoods: Clayton County - Jonesboro, GA, Cumber-land/Galleria - Marietta, GA, South Fulton - Atlanta, GA, South DeKalb - Lithonia, GA, Decatur/North Druid Hills - Deca-tur, GA, Buckhead - Atlanta, GA, Midtown Atlanta - Atlanta, GA, Norcross-Gwinnett - Norcross, GA, Brookhaven - Atlanta, GA, Dunwoody - Atlanta, GA

Hartsfield-Jackson Atlanta International Airport is located within 12 minutes of Majestic Park. For the surrounding community of south-west Atlanta, the nearby schools include:

Flat Shoals Elementary School

Greenforest McCalep Christian Academy

3[ ]

02PROPERTYDESCRIPTIONS E C T I O NThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap

PROPERTY DETAILSMAJESTIC PARK APARTMENTS

Property Address 1991 DELOWE DR., SWATLANTA, GA 30311

Lot Size 25.97 ACRES

Number of Buildings 25

Number of Units 298

Net Rentable SF 318,368

Average Unit Size 890 SQ. FT.

Year Built/ Renovated 1968 / 2018

5[ ]

SITE PLAN

MAJESTIC PARK APARTMENTSLot Size 25.97 ACRES


Number of Units 298

LANGFORD PA

RKWAY 51, 710

VPD

D

ELOW

E DR

.

HIGH QUALITY AMENITIES

COMMON AREA AMENTIES

Controlled Access

Swimming Pool

Laundry Facilities

Total Parking - 325 Spaces

Parking Type - Grade Level

Rental Office - Stand Alone

INTERIOR AMENTIES

Washer/Dryer Hookups Available In Townhouse Units

On-Site laundry facility for remaining units

High Speed Internet Access - BellSouth/Comcast

7[ ]

RENOVATED KITCHENS INCLUDE REFRIGERATOR/ FREEZER, OVENS AND COUNTERTOPS. SPACIOUS ONE-, TWO-, AND THREE-BEDROOM APARTMENT HOMES FEATURE FULLY EQUIPPED KITCHENS, A PRIVATE PATIO, AND ARE CABLE-READY.

3 BEDROOM/ 2 BATH1,300 SQ FT | KINGSTON696 SQ FT | GARDEN

2 BEDROOM/ 2 BATH1,080 SQ FT | BACHELOR

1 BEDROOM/ 1 BATH

FLOOR PLANS

11[ ]

02 PROPERT Y DESCRIPTIONMA JESTIC PARK APARTMENTS

SCHEDULED POTENTIAL

UNIT TYPE # OF UNITS AVERAGESQUARE FEET MARKET RENTAVERAGE

RENTAVERAGE RENT / SF

MONTHLYINCOME

AVERAGERENT

AVERAGE RENT / SF

MONTHLYINCOME

1 BDR /1 BTH 48 696 $900 $900 1.29 $43,200 $900 $1.29 $43,200

2 BDR / 1.5 BTH 180 1,080 $1,000 $972 0.90 $175,300 $1,000 $0.93 $180,000

3 BDR / 2.5 BTH 70 1,294 $1,100 $1,076 0.83 $75,300 $1,100 $0.85 $77,000

TOTALS/WEIGHTED AVERAGES 298 1,068 $985 $0.92 $293,525 $1,007 $0.94 $300,200

$3,522,300 $3,602,400

GROSS ANNUALIZED RENTS $3,522,300

RENT ROLL SUMMARY

12


[ ]

TYPE UNITS SF

1 Bed/ 1 Bath 48 696

2 Bed/ 1.5 BA 180 1,080

3 Bed/2.5 Bath 70 1,294

Chart Title

1 2 31

BDRM

/ 1 BA 3 BDRM/ 2.5 BA

2 BDRB/ 1.5 BA

SITE INFORMATION

Property Address 1991 Delowe Drive SW Atlanta, GA 30311

Number of Units 298

Site Size 25.97 acres


Developement Density 11.47 units per acre

Parking 325 surface spaces

Year Built 1968

Year Renovated 2018

PROPERT Y INFORMATION

UNITMIX

13[ ]


03FINANCIALANALYSISThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap

S E C T I O N

OPERATING STATEMENTINCOME CURRENT MARKET NOTES PER UNIT PER SF

GROSS POTENTIAL RENT $3,602,400.00 $3, 782,520.00 $12,693.02 $11.88

LOSS / GAIN TO LEASE -$80,100.00 2.22% $0.00 $0.00 $0.00

GROSS SCHEDULED RENT $3,522,300.00 $3, 782,520.00 $12,693.02 $11.88

PHYSICAL VACANCY -$2,993,955.00 85.00% -$151,300.80 4.00% -$507.72 -$0.48

ECONOMIC VACANCY

NON-REVENUE UNITS 0.00% $0.00 $0.00 $0.00

BAD DEBT -$2, 700.00 0.08% -$94,563.00 2.50% -$317.33 -$0.30

CONCESSION -$4,110.00 0.12% $0.00 $0.00 $0.00

TOTAL VACANCY -$3,000, 765.00 85.19% -$245,863.80 6.50% -$825.05 -$0.77

ECONOMIC OCCUPANCY $0.15 $0.94

EFFECTIVE RENTAL INCOME $521,535.00 $3,536,656.20 $11,867.97 $11.11

OTHER INCOME

PET, APP, LATE, & OTHER FEES $0.00 $35,366.00 [1] $118.68 $0.11

ALL OTHER INCOME $11,853.57 $0.00 $0.00

TOTAL OTHER INCOME $11,853.57 $35,366.00 $118.68 $0.11

EFFECTIVE GROSS INCOME $533,388.57 $3,572,022.20 $11,986.65 $11.22

EXPENSES CURRENT MARKET NOTES PER UNIT PER SF

REAL ESTATE TAXES $168,101.00 $380,635.00 [2] $1,277.30 $1.20

INSURANCE $18,006.00 $81,950.00 [3] $275.00 $0.26

UTILITIES - ELECTRIC $47,220.00 $60,000.00 $201.34 $0.19

UTILITIES - WATER & SEWER $15,000.00 $163,560.00 [4] $548.86 $0.51

UTILITIES - GAS $594.00 $0.00 $0.00 $0.00

TRASH REMOVAL $10,080.00 $55,000.00 $184.56 $0.17

REPAIRS & MAINTENANCE $22,923.00 $178,601.00 [5] $599.33 $0.56

LANDSCAPING $24,300.00 $32,400.00 $108.72 $0.10

MARKETING & ADVERTISING $12,672.00 $12,000.00 $40.27 $0.04

PAYROLL $120,000.00 $291,509.00 [6] $978.22 $0.92

ALARM MONITORING/INSPECTION $1,500.00 $2,400.00 $8.05 $0.01

GENERAL & ADMINISTRATIVE $6, 750.00 $71,000.00 $238.26 $0.22

MISC. EXPENSES $300.00 $50,000.00 $167.79 $0.16

OPERATING RESERVES $178,601.00 [7] $599.33 $0.56

MANAGEMENT FEE $0.00 $0.00 $0.00 $0.00

TOTAL EXPENSES $447,446.00 $1,557,656.00 $5,227.03 $4.89

EXPENSES AS % OF EGI 84% 44%

NET OPERATING INCOME $85,942.57 $2,014,366.20 $6,759.62 $6.33

18[ ]

03 FINANCIAL ANALYSISMA JESTIC PARK APARTMENTS

NOTESOPERATING STATEMENT NOTES

1 Misc Income based on 1% of Effective Rental Income.

2 Property taxes based on post closing market value of $22MM x current millage rate

3 Property insurance avg $275 per unit including liability.

4 Water & Sewer based on full occupancy using $35 per mo. / 1br; $45 per mo. / 2br; $55 per mo. / 3br.

5 Repairs & Maintenance based on 5% of EGI.

6 Management fee quote provided by Meridian Management Group is shown as Payroll. 6 full time employees at $829 per unit plus 18% additional employee costs.

7 Operating Reserves based on 5% of EGI.

SELLER FINANCINGSeller financing is available for this property to allow purchaser to close quickly and stabilize the asset to at least a 90% occupancy in order to put permanent long-term debt in place. Terms are negotiable depending upon strength of buyer and amount of down payment.

Current financial information with an updated rent roll in Excel is available upon request.

[ ]

03 FINANCIAL ANALYSISMA JESTIC PARK APARTMENTS

19

04COMPETITIVEPROPERTY SETThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap

S E C T I O N

RENT COMPARABLES

1

3

2

MAJESTIC PARK APARTMENTS

1 SHAMROCK GARDENS

2 APPLETREE TOWNHOMES

3 THE GREENS AT CASCADE

MAJESTIC PARKAPARTMENTS

RENT COMPARABLES

22

04 RENT COMPARABLESMA JESTIC PARK APARTMENTS

[ ]

UNIT TYPE UNITS OCCUPANCY YEAR BUILT SQ. FT. RENT RENT/ SQ. FT. NOTES

1 Bdr 1 Bath 40 100% 1967 810 $729 $0.9024 Hour Availability, Air Conditioning, Balcony, Cable Ready, Carpet, Ceiling Fans, Clubhouse, Day Care, Dishwasher, Disposal, Eat-in Kitchen, Grill, Heating, Kitchen, Laundry Facilities, Laundry Service, Microwave, Picnic Area, Planned Social Activities, Pool, Property Manager on Site, Range, Refrigerator, Views, Washer/Dryer Hookup, Window Coverings, Yard Concessions: 0.2 Amenities: 24 Hour Availability, Air Conditioning, Balcony, Cable Ready, Carpet, Ceiling Fans, Clubhouse, Day Care, Dishwasher, Disposal, Eat-in Kitchen, Grill, Heating, Kitchen, Laundry Facilities, Laundry Service, Microwave, Picnic Area, Planned Social Activities, Pool, Property Manager on Site, Range, Refrigerator, Views, Washer/Dryer Hookup, Window Coverings, Yard

2 Bdr 1 Bath 165 980 $809 $0.83

2 Bdr 1.5 Bath 70 1,080 $859 $0.80

3 Bdr 2 Bath 69 1,170 $899 $0.77

Total/Avg. 344 1,019 $828 $0.81

SHAMROCK GARDENS1988 Plaza Ln SW, Atlanta, GA, 30311

UNIT TYPE UNITS OCCUPANCY YEAR BUILT SQ. FT. RENT RENT/ SQ. FT.

1 Bdr 48 15% 1968 696 $900 $1.29

2 Bdr 180 1,080 $972 $0.90

3 Bedroon 70 1,294 $1,076 $0.83

Total/Avg. 298 1,068 $985 $0.92

MAJESTIC PARK1991 Delowe Dr. SW, Atlanta, GA 30311

RENT COMPARABLES 04 MARKE T COMPARABLESMA JESTIC PARK APARTMENTS

[ ]23


1 Bdr 1 Bath 40 98% 1969 895 $600 $0.67Air Conditioning, Balcony, Business Center, Cable Ready, Courtesy Patrol, Dishwasher, Fitness Center, Gated, Ice Maker, Laundry Facilities, Laundry Service, Playground, Pool, Property Manager on Site, Refrigerator, Trash Pickup - Door to Door, Washer/Dryer Hookup Concessions: 0.4 Amenities: Air Conditioning, Balcony, Business Center, Cable Ready, Courtesy Patrol, Dishwasher, Fitness Center, Gated, Ice Maker, Laundry Facilities, Laundry Service, Playground, Pool, Property Manager on Site, Refrigerator, Trash Pickup - Door to Door, Washer/Dryer Hookup

2 Bdr 1.5 Bath 154 1,082 $725 $0.67

3 Bdr 2 Bath 16 1,134 $800 $0.71

Total/Avg. 210 1,050 $707 $0.67

APPLETREE TOWNHOMES2328 Campbellton Rd SW, Atlanta, GA, 30311


1 Bdr 1 Bath 24 98% 1969 908 $920 $1.01Business Center, Dishwasher, Fireplace, Fitness Center, Laundry Facilities, Playground, Pool, Tennis Court, Tile Floors, Vaulted Ceiling, Walk-In Closets, Washer/Dryer Hookup Concessions: 3.4 Amenities: Business Center, Dishwasher, Fireplace, Fitness Center, Laundry Facilities, Playground, Pool, Tennis Court, Tile Floors, Vaulted Ceiling, Walk-In Closets, Washer/Dryer Hookup

2 Bdr 2 Bath 104 1,152 $1,030 $0.89

3 Bdr 2 Bath 32 1,390 $1,215 $0.87

Total/Avg. 160 1,163 $1,051 $0.90

THE GREENS AT CASCADE4355 Cascade Rd SW, Atlanta, GA, 30331

SALES COMPARABLES

1

3

2


MAJESTIC PARK APARTMENTS

1 CASCADE GLEN APARTMENTS

2 THE PINES AT GREENBRIAR

3 HARMONY POINTE

MAJESTIC PARK APARTMENTS1991 Delowe Dr. SW, Atlanta, GA, 30311

SALES COMPARABLES

UNIT TYPE UNITS

Price/Unit: $0 48 1 Bdr

Total No. of Units: 298 180 2 Bdr

Year Built: 1968 70 3 Bedroon

1 CASCADE GLEN APARTMENTS3901 Campbellton Rd SW, Atlanta, GA, 30331UNITS UNIT TYPE

Close Of Escrow: 2/6/18 48 1 Bdr Bath

Sales Price: $18,200,000 140 2 Bdr 1.5 Bath

Price/Unit: $50,000 140 2 Bdr 2 Bath

Price/SF: $45.96 36 3 Bdr 2 Bath

CAP Rate: 7.00%

Total No. of Units: 364

Year Built: 1968

UNDERWRITING CRITERIA

Income $533,389 Expenses $447,446

NOI $85,943 Vacancy ($3,000,765)

04 SALES COMPARABLESMA JESTIC PARK APARTMENTS

25[ ]

SALES COMPARABLES

2 3 HARMONY POINTE2420 Heaton Dr., East Point, GA, 30344UNITS UNIT TYPE

Close Of Escrow: 8/20/18 30 1 Bdr 1.5 Bath



Price/SF: $39.51

CAP Rate: 7.80%


Year Built: 1971

THE PINES AT GREENBRIAR2909 Campbellton Rd., Atlanta, GA, 30311

UNITS UNIT TYPE

Close Of Escrow: 4/27/18 94 1 Bdr 1 Bath



Price/SF: $30.23

CAP Rate: 6.90%


Year Built: 1971

26[ ]

04 SALES COMPARABLESMA JESTIC PARK APARTMENTS

05MARKETOVERVIEWThis information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc.© 2018 Marcus & Millichap

S E C T I O N

MARKET OVERVIEW

28

04 MARKE T OVERVIEWMA JESTIC PARK APARTMENTS

[ ]

AEROTROPOLISATLANTA

HARTSFIELD-JACKSONAIRPORT

#3 2017 YOYMETRO ATLANTA'S RANK

+2.1% 2017 YOYMETRO ATLANTA'S NON- FARM EMPLOYMENT GROWTH, WELL AHEAD OF AVERAGE U.S. JOB GROWTH OF 1.4% OVER SAME TIME PERIOD

+56K 2017 YOY JOBS ADDED METRO ATLANTA ADDED THE FIFTH MOST JOBS YEAR-OVER-YEAR

METRO ATLANTA ADDED THE FIFTH MOST JOBS YEAR-OVER-YEAR

Forecast of projected 2018 to 2021 job growth by Moody’s Analytics, with growth of 96,000 jobs expected. In 2017, construction jobs grew by the most at 4.9%, followed by education and health (3.9%), professional and business services (3.2%) and leisure and hospitality (2.5%).


ATLANTA

+0.9% 2017 YOY FORECASTED 2018-2021

AHEAD OF 0. 7% AVERAGE ANNUAL GROWTH FORECASTED FOR U.S. OVER SAME TIME PERIOD

METRO ATLANTAECONOMIC GROWTH

https://aeroatl.org

Since its formation in 2014, the Aerotropolis Atlanta Alliance has been the driving force behind the revitalization of the area around Hartsfield-Jackson Atlanta International Airport (ATL).

Goals of the Aerotroplolis Atlanta Initiative include identifying target industries and sectors requires an iterative process of economic development and market analysis as well as comprehensive stakeholder engagement.

ANALYSIS OF AREAS OF OPPORTUNITY

Areas of opportunities reflect a high-level analysis of commercial, industrial, vacant (forested) land, and large-scale institutional uses like Fort McPherson, Fort Gillem, and the Farmers Market.

MARKET OVERVIEW

AEROTROPOLIS ATLANTA

29

04 MARKE T COMPARABLESMA JESTIC PARK APARTMENTS

[ ]29

1

22

2

3

4

5

6

Source: Atlanta Regional Commission GIS.

ATL

MAP 8:TRANSPORTATION PROJECTS

Study Boundary

Major Corridors

LCI Projects

Transit Initiatives

The BeltLine

Existing MARTA Rail

Potential MARTA Extension

Community Improvement Districts (CID)

Municipalities

County Lines

Railroads

23

HIGHLIGHTED PROJECTS1. MARTA Extension2. Managed Lanes3. South Fulton Parkway Access Management4. BeltLine5. CW Grant Parkway6. LCI Improvements

0 1 2 4 MILES

https://aeroatl.org

MARKET OVERVIEWAEROTROPOLIS ATLANTA

04 MARKE T COMPARABLESMA JESTIC PARK APARTMENTS

[ ]3030

DEMOGRAPHIC REPORTPopulation 1 Mile 3 Mile 5 Mile

2017 Population 12,211 81,503 218,145

2022 Population 11,963 81,092 221,689

2017 Median Age 33.8 38.2 37.4

Households

2017 Households 5,340 33,122 85,475

Avg Household Size: 2.32 2.43 2.45

Housing

2017 Owner Occupied Units 25.1% 42.2% 37.0%

2017 Renter Occupied Units 74.9% 57.8% 63.0%

Income 1 Mile 3 Mile 5 Mile

Median HH Income $26,910 $32,934 $30,845

Per Capita Income $16,315 $19,232 $18,634

Average HH Income $37,177 $46,928 $46,297

Population

In 2016, the population in your selected geography is 218,145. It is estimated that the population in your area will be 221,689 five years from now, which represents a change of 1.62% from the current year. The current population is 46.11% male and 53.89% female. The median age of the population in your area is 34.7 , compare this to the Entire US average which is 37.8 . The population density in your area is 2,777.30 people per square mile.

Households

There are currently 85,475 households in your selected geography. The number of households has changed by 7.38% since 2000. It is estimated that the number of households in your area will be 89,556 five years from now, which represents a change of 4.77% from the current year. The average household size in your area is 2.45 persons.

Income

In 2016, the median household income for your selected geography is $30,845 , compare this to the $Entire US average which is currently $56,286 . The median household income for your area has changed by 12.28% since 2000. It is estimated that the median household income in your area will be $35,289 five years from now, which represents a change of 14.41% from the current year. The current year average household income in your area is $46,297 , compare this to the US average which is $81,217 .

Housing

In 2000, there were 34,379 owner occupied housing units in your area and there were 45,219 renter occupied housing units in your area. The median rent at the time was $467 .

Employment

In 2016, there are 122,516 employees in your selected area, this is also known as the day-time population. The 2000 Census revealed that 51.34% of employees are employed in white-collar occupations in this geography, and 48.62% are employed in blue-collar oc-cupations.

31

DEMOGRAPHICSMA JESTIC PARK APARTMENTS

[ ]

DAN McBURNEYSenior Associate,

Member - National Multi Housing GroupAtlanta Office

Office: [email protected]

FL SL3098262, GA 368233

RAY WRIGHTAssociate

Member - National Multi Housing Group AtlantaOffice: 678.808-2700Cell: 770-330-0200

[email protected] 376628

offering memorandum - loopnet · 2018. 12. 20. · offering summary interest offered marcus &...

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