REO | Terraces at Highbury Court
Lender Driven Sale | 172 Units with Strategic Value-Add Upside Minutes from Delta World Headquarters
Marketing description
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Colliers and Crexi are pleased to present Terraces at Highbury Court, a 172-unit garden-style community with multiple paths to add value located minutes from Delta World Headquarters in fast-growing Atlanta. Priced well-below replacement cost, Terraces at Highbury Court provides the ability to capture substantial top-line revenue upside through a strategic renovation and stabilization program.
Positioned just off I-75, residents have easy access to Delta World HQ (40,000+ jobs), Hartsfield-Jackson International Airport (21,000 non-Delta jobs), Grady Memorial Hospital (7,600 jobs), and major employers in Midtown and Downtown Atlanta. The East Point MARTA Station is only 10 minutes from the property. New ownership will be able to quickly stabilize the property while capitalizing on strong submarket fundamentals (93.3% occupancy), minimal new supply, and excellent population growth in Atlanta.
- Non-Contingent
- Earnest Money Deposit: Greater of $20,000 or 10% of the Purchase Price
- Marketing Fee: 3% of the Winning Bid Amount
- $10,000 Participation Deposit
- Subject To Seller Approval
40 Mount Zion Rd SE, Atlanta, GA 30354
Investment highlights
GA Auctioneer: Stephen Dawson, GA AU004630.
- Well-Below Replacement Cost: Priced far below replacement cost for new garden-style product in Atlanta
- Strategic Value-Add Upside: Mix of unrenovated and renovated units. Unrenovated units have oak cabinets, laminate countertops, and white appliances. Renovated units include modern white cabinets, hardwood-style floors, subway tile backsplash, faux granite laminate countertops, and stainless steel appliances
- Nearby Communities Achieving Over $1,600/Unit: Nearby competitive communities are achieving average rents above $1,600/unit with targeted interior upgrades
- Large Unit Size: Averaging 1,097 SF
- Excellent Population Growth: Atlanta is projected to grow by nearly 1.4 million people by 2050
- Minimal New Supply: There are only 116 units within a 3-mile radius of Terraces at Highbury Court set to deliver over the next 36+ months – runway for future rent growth and reduces concessionary pressure
- Immediate Access to I-75: Easy commuter access to major employers in suburban and downtown Atlanta
- Proximate to the East Point MARTA Station: Terraces at Highbury Court is 10 minutes away
- 20 Minutes from Downtown Atlanta: Atlanta is home to 16 Fortune 500 headquarters and a labor force of over 3.3 million people
Contacts
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Additional Information
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