windrush apartments

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windrush
apartments
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multi-family investment OpportunitY
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Windrush Apartments is located on
Kensington Road in the Decatur area
of east metro Atlanta, just south of the
Memorial Drive exit off I-285. This part
of Dekalb County has long been recognized as a desirable residential location
due to its superior access, abundant area
amenities, and competitive cost of living
compared to other parts of the city.
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HURR
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Located just across I-285 from Windrush
is the Indian Creek MARTA station, providing bus and rail service to the entire
metro area. The Kensington MARTA station is also close by, a few blocks west
of both communities. By car, residents
of Windrush enjoy easy access to the
nearby Stone Mountain, Northeast, and
I-20 East employment centers which are
major hubs for distribution, manufacturing, and business park companies.
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LITHONIA RDAIN
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Other significant Atlanta employers lo20
cated
only a few minutes away from
Windrush include various Dekalb County government agencies in downtown
Decatur, Fulton County government in
downtown Atlanta, and Delta Air Lines
and Hartsfield Jackson International Airport in East Point.
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JOHN WILLIAMS HWY
NTR
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AVE
CONYERS
ARABIA
MOUNTAIN
STATE
PARK
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STOCKBRIDGE
Managing Director
42
20
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LANDIN
RD
EAGLES
MA
JODECO
RD
[email protected]
IN
81
NEWTON
COUNTY
404.842.6510
36
RA
TA
ST
[email protected]
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NOAHS ARK RD
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FAYETTEVILLE
404.842.6506
JONESBORO
HILL
OAK HILL RD
155
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STOCKBRIDGE RD
CLAYTON
COUNTY
DR
Mike McGaughy, CCIM
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Managing Director
EAGLE
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Jon Kleinberg
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Windrush Apartments is Exclusively Offered by:
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ROCKDALE
COUNTY
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McDONOUGH HWY
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PANOLA
FOREST PKWY
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Memorial Drive is a primary east-west
traffic and retail corridor through northcentral Dekalb County. Home to a wide
variety of shopping centers, big box developments, restaurants, and business
services, Memorial Drive is about to
undergo a $1.3 million streetscape improvement program.
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East metro Atlanta
decatur, Georgia
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We obtained the information in this offering package from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale,
lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example
only, and they may not represent current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.
81
HA
LANIER AVE
3340 Peachtree Road, NE, Suite 1000
Atlanta, GA 30326
t: 404.842.6600 | f: 404.842.6601
www.transwestern.net/atlanta
BARN
ETT
BRIDG
E RD
REO multi-family
INVESTMENT OPPORTUNITY
Exclusively Offered By:
IN
MA
multi-family REO Opportunity
DECATUR REO Apartment community
offering Summary
Transwestern is pleased to exclusively present the opportunity to acquire Windrush Apartments, a 202-unit
REO multi-family asset located in the Decatur area of
metro Atlanta. Windrush offers the following benefits to
investors:
Available Individually or as a Portfolio with Langley Place
Financing Available on Portfolio to Qualified Buyers
memorial
drive
Financing Available to Qualified Buyers
Financing for the acquisition of Windrush and the adjacent
117-unit REO asset Langley Place can be made available
to a qualified purchaser. Terms will be dependent on the
quality of the offer and the qualifications of the buyer.
285
Address
3841 Kensington Road
Decatur, GA 30032
Total Units
202
Year Built
1982
Occupancy
75%
Unit Mix
Unit
Plan
Size
(SF)
% of
Total
20
162
20
688
1,065
1,219
10%
80%
10%
1BR/1BA
2BR/2BA
3BR/2BA
Strategic East Atlanta Location
Windrush Apartments is located inside I-285 just south of
the Memorial Drive exit. Decatur is a highly-populated and
desirable address thanks to the area’s excellent access to
nearby employment centers and the abundant amenity
base found on Memorial Drive. Bus and rail service to all
points in metro Atlanta is provided by two MARTA stations — Indian Creek directly across the interstate and
Kensington just a few blocks to the west. Kensington Road
connects Memorial Drive with other key Dekalb County
traffic corridors, and has average traffic counts of 17,530
cars per day, which provides excellent exposure for the
property.
No.
Units
kensington
road
Size (SF)
210,670 total SF
1,043-SF average unit size
Site
20.255 acres
Site Density
9.97 units per acre
Flood Plain
The site is not in the 100-year flood plain
Parking
447 spaces
Parking Ratio
2.21 spaces per unit
1.11 spaces per bedroom
In addition to its key location, Windrush Apartments
offers area residents a good mix of unit sizes and price
points. With 202 one-, two-, and three-bedroom units,
the well-maintained and attractive community features key
amenities like a pool, tennis court, clubhouse, playground,
and more. Full-feature units have modern kitchens and
appliances, sunrooms or balconies, and walk-in closets.
Windrush’s units average a spacious 1,043 square feet in
size.
Construction
23 two- and three-story garden-style apartment buildings with T-111
wood siding
Community
Features
•
•
•
•
•
•
•
•
Value Enhancement Potential
Unit
Features
• Fully-equipped kitchens with dishwashers and double sinks and
garbage disposal
• Walk-in closets
• Balconies in one-bedroom units
• Sunrooms with ceiling fans in two- and three-bedroom units
• Full-size washer/dryer connections in two-and three-bedroom units
Utilities
Use
Heat
Cooling
Cooking
Hot Water
Cold Water
Quality Multi-Family Asset
As an REO property, Windrush provides the ability to
acquire a well-located multi-family asset at a price far
below replacement cost. With proactive ownership and
management, operating efficiencies and income can be
enhanced. A more aggressive marketing program can
capture additional occupancy.
Langley Place
(adjacent investment opportunity)
Indian Creek
MARTA
Station
Windrush
Apartments
Portfolio Opportunity
Directly adjacent to Windrush is Langley Place, a 117unit REO community being offered by the same owner
as Windrush Apartments. Together totaling 319 units,
Windrush and Langley Place provide an investor with the
operating and investment economies of scale sought by
larger multi-family investors. Individually, they offer multifamily owners the opportunity to start or expand share in
the attractive Decatur apartment market.
Swimming pool
Lighted tennis court
Clubhouse with kitchen
Laundry facility
Mail center
Playground
Picnic and grilling areas
MARTA public transportation stop
Population
2009
Demographics Average Household Income
(five-mile radius)
Utility
Electric
Electric
Electric
Electric
N/A
Paid By
Resident
Resident
Resident
Resident
Landlord
294,689
$69,791
Median Home Value
$117,971
White-Collar Employment
59.4%
(percent of total workforce)