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30048284
30048313

3656 Browns Bridge Rd, Gainesville, GA 30504

IS
GA 389665
Berkadia Commercial Mortgage Atlanta
Listed by Berkadia Commercial Mortgage Atlanta
$9,500,000
102 days on market
Updated 89 days ago

Pinebrook Place

Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 56,600
Units 66
Cap Rate 6.09%
NOI $578,673
Occupancy 90%
Pro-Forma Cap Rate 7.02%
Pro-Forma NOI $667,201
Broker Co-Op No
Year Built 1983
Year Renovated 2022
Buildings 6
Stories 2
Acreage 7.800
Investment Type Value Add
Occupancy Date 01/28/2026

Value-Add Multifamily Opportunity | 66 Units | $143,939/unit

Marketing description

NO SELLER FINANCING | ALL FINANCIALS CAN BE DOWNLOADED FROM THE DD LINK

66-units build in 1983, located in Gainesville, GA, Milken Institute’s #1 top performing small metro area in the country (2025). Situated on Browns Bridge Road with ~30,000 cars passing by daily, driving traffic.

Investment highlights

  • GAINESVILLE MARKET

Hall County has been one of the strongest markets in GA over the last two decades with population increasing 86% since 2000. Milken Institute featured Gainesville as the #1 top performing small metropolitan area in the country on its 2025 list. This trend is expected to continue as Gainesville sits along a major SE logistics corridor and offers a superior quality of life compared to its Metro Atlanta competitors.

  • STRONG NEIGHBORHOOD

Pinebrook Place boasts an average household income of $114K+ within a one-mile radius. Additionally,

the property sits 0.3 miles away from Gainesville’s first ultra-luxury resort which is expected to deliver in 2027.

  • PROVEN VALUE-ADD PROGRAM

New ownership can upgrade 26 classic and 33 partially renovated units to premium level. Premium units are currently achieving rent bumps of $108 over in-place classic rents and $99 over in-place partially renovated rents. These renovations will generate over $74k in additional annual rental revenue.

  • OPPORTUNIT Y TO PUSH RENTS TO MARKET

Competitors’ rents outpace subject’s average in-place rents by $156.

  • SUBSTANTIAL CAPITAL INFUSION

Since 2022, $900,000 ($13,639/unit) has been invested in asset preservation, curb appeal, and resident experience.

  • IDEAL UNIT MIX

Pinebrook Place consists of one- and two-bedroom floor plans. Over 24% of the property is two-story townhomes.

Each unit features washer/dryer connections and ample storage, with select units offering private back patios.

  • EFFICIENT PROPERTY

Pinebrook Place has very lean expenses, primarily due to a part-time structure with the dominant property

management firm in the area. New ownership can continue to leverage this unique set-up.

Listing Contacts

IS
GA 389665
Berkadia Commercial Mortgage Atlanta
Listed by Berkadia Commercial Mortgage Atlanta

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$578,673.00
$48,222.75/mo

Valuation Metrics

0
DSCR
6.09%
Cap Rate
6.09%
ROI

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