100 OAK BLUFF DR, ATHENS, GA 30607

ASSET SURROUNDED BY GROWTH: Park Oaks sits on the border of Clarke and Jackson County, this location allows the asset to benefit from the growth taking place in Athens and Commerce.

SUPERIOR PRODUCT TYPE: The subject offers large 2BR and 3BR units with private driveways, private patios, and brick exteriors. In addition to large tranquil lots, the property features a private hiking trail that connects to Oxbow Loop in Sandy Creek Park.

SPOTLESS ASSET: New ownership will benefit from over $1.1M in capex over the last six years. Improvements include new roofs, new water heaters, new HVACs, new pavement, and over $600K on various building improvements.

FLAWLESS OPERATIONS: The property has filed zero evictions in six years, has averaged 97% occupancy over 26 months, and 50% of residents have been at the property 3+ years.

ORGANIC UPSIDE: Over the last 26 months average in-place rents have moved from $1,290 to $1,431, representing an 11% increase while keeping nearly perfect occupancy and without interior renovation. Operations strongly signal demand for renovations.

OPPORTUNITY TO RENOVATE INTERIORS: Current ownership has renovated one unit interior and achieved a $175 premium.

ADDITIONAL LAND: Park Oaks sits on 23 acres and includes a vacant lot in the middle of the residential area. New ownership has ample room for further development.