316 Columbia DrCarrollton, GA 30117
The Foundry
Asset ClassStudent Housing, Multifamily
Renovated 240-unit rental community in Atlanta MSA with significant revenue growth
Overview
- Transwestern’s Southeast Investment Sales Team is pleased to exclusively present the opportunity to acquire The Foundry, a 240-unit multifamily asset in Carrollton, Georgia.
- Purpose built for student housing in 2006, the Property recently converted 165 units (all two-, three-, and 38% of the four-bedroom units) into by-the-unit conventional apartments, leaving 75 four-bedroom units as by-the-bed-rentals. These are 100% preleased with a waiting list.
- New ownership has the unique opportunity to convert the remaining by-the-bed units to by-the-unit conventional apartments, revert the by-the-unit conventional back to by-the-bed, or continue operating the property as is.
Investment Highlights
- Well designed property with spacious units & attractive community features
- Extensive 2023 capital improvements - $5,000,000+
- Strong operating history with 8.7% annualized rent growth
- Desirable location within the Atlanta MSA
- Fast growing University of West Georgia - Georgia's most recent Division 1 school
- ±46 Acre site - additional development potential
Photo Gallery
316 Columbia DrCarrollton, GA 30117
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TRANSWESTERN | SOUTHEAST INVESTMENT SALES TEAM
Listing provided by Revere CRE