Amberidge
$250/unit Rental Upside | 31 Units | Downtown Decatur
Marketing description
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The current seller is only the second owner of the property in the last 33 years with significant capital spent on asset preservation over this time. In 2022 all roofs were replaced, the main water line was replaced, and the parking lot was repaired and seal coated.
Located in Decatur, Amberidge benefits from great surrounding demographics. Within a 3-mile radius the HHI averages over $182k, the average home is valued over $809k, and in-place rents account for just over 10% of monthly wages. Amberidge is also just a 15-minute walk from the charming Downtown Decatur, known as an arts and food hub, and Niche’s #4 place to live in Georgia in 2025.
The owner is open to preemptive offers and we expect have a CFO in mid-February. Please let us know when you would like to schedule a tour.
Investment highlights
ALL DD MUST BE DOWNLOADED FROM THE DUE DILIGENCE LINK
Robust Renter Demographics: The market benefits from an average
household income of $182,608 and an average home value of $809,942.
Within a three-mile radius, 87% of the population is employed in white collar
positions, and 73% hold a bachelor’s degree or higher.
Attractive Rent-to-Income Ratio: Current in-place rents ($1,564) account
for only 10.06% of monthly average household income (AHI) within a one mile
radius. AHI exceeds $186,000 within one mile.
Opportunity to Push Rents to Market: Competing properties achieve rents
that exceed the subject’s market rents by more than $250.
Discount to Homeownership: The estimated monthly mortgage payment,
taxes, and insurance ($5,312) for the average home in the area significantly
exceed the subject’s market rent ($1,564). With mortgage rates remaining
elevated, renting continues to be an attractive option for many residents in
the submarket.
Well-Located Asset: The property is ideally situated within a short drive
of Downtown Decatur, providing convenient access to a range of local
amenities. It is also a five-minute drive from the Clifton Corridor, offering
efficient connectivity to key employment centers.
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