Overview
Franklin Street is pleased to present Pinnacle at Fairview, a 42-unit multifamily community located in Rossville, Georgia, positioned just south of the Chattanooga MSA. Constructed in 1970, the property features a mix of one- and two-bedroom floorplans offering efficient layouts in a location that benefits from both natural surroundings and regional economic connectivity. Pinnacle at Fairview is strategically located within close proximity to the Chattanooga metropolitan area, a regional employment hub that has experienced sustained population growth and economic diversification in recent years. Chattanooga’s economy is supported by a broad base of advanced manufacturing, logistics, healthcare, and technology employers, contributing to continued in-migration and expanding housing demand. The property also benefits from direct connectivity via I-75, providing efficient access to employment centers throughout Chattanooga and Northwest Georgia. The community offers unique lifestyle appeal through proximity to Chickamauga and Chattanooga National Military Park, one of the region’s most significant recreational and historical destinations, along with picturesque mountain views that distinguish the asset within the local rental market. Daily-needs retail is conveniently accessible, including Fort Oglethorpe’s Walmart Supercenter and Chick-fi l-A, supporting resident convenience and strong neighborhood fundamentals. Operationally, 36 of the 42 units have been renovated to include new cabinetry, granite countertops in kitchens and bathrooms, new LVP flooring, and updated interior paint finishes. The renovation scope also includes new windows installed in all units and new roofs on two of the five buildings, reinforcing both interior quality and exterior capital improvements. Collectively, Pinnacle at Fairview offers investors exposure to are novated workforce housing asset supported by Chattanooga’s expanding economic base, regional highway connectivity, and a scenic North Georgia setting.
Investment Highlights
1. Comprehensive Renovation Program
- Ownership has executed a targeted renovation program across the property, with 36 of 42 units renovated, supported by approximately $617,000 of capital investment across the 42-unit community.
- Interior improvements within renovated units include installation of new cabinetry, granite countertops in kitchens and bathrooms, updated appliances (as needed), new LVP flooring, fresh interior paint, new sliding doors, and updated electrical and plumbing components. This scope reflects both finish-level upgrades and system-level enhancements.
- The capital program also included significant property-wide and exterior improvements, including new windows installed in all units, new roofs on two of the five buildings, exterior painting completed on four of five buildings, and exterior repairs across four of five buildings.
- The combination of interior modernization and exterior capital improvements positions the asset with upgraded in-unit finishes, strengthened building systems, and reduced near-term capital requirements, supporting competitive positioning and long-term operational stability within the submarket.
2. Limited Supply Submarket with Steady Population Growth Tailwinds
- Rossville represents a relatively small and supply-constrained rental submarket, with an estimated inventory of approximately with an estimated inventory of approximately 1100 rental units.
- There are currently no units under construction within the submarket, reinforcing a stable competitive landscape with limited new supply pressure.
- Population growth is projected at approximately 1% annually over the next five years, supporting continued incremental housing demand.
- The combination of steady population expansion and a largely fixed rental inventory base creates a favorable supply-demand dynamic, supporting the potential for sustained organic rent growth over the coming years.
Unit Mix
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