卡林顿公园公寓是一座位于乔治亚州琼斯博罗市中心的330平方米的花园式多家庭社区。该物业得益于其位于I-75和I-675附近的优越的地理位置。卡林顿公园占有率高达97%,为投资者提供出色的现金流量,并通过内部升级提供巨大的上行潜力。
随着现金流的增加,卡林顿公园的入住率居高不下,现在占有率达97%,收入超过320万美元。过去两年,总收入增长率超过11%。这种增长尤其重要,因为它主要是通过有意义的内部升级计划实现的。
室内升级计划 - 卡林顿公园已升级的单位不到总单位的5%。升级包括新的深色家电套装、新的照明系统、新的水龙头、油漆橱柜、安装2寸百叶窗和新的人造硬木地板。大概的升级费用是4,000美元/单位,导致125美元的租金溢价。
实用成本节省 - 通过安装节水设备(如0.9加仑厕所和低流量淋浴喷头)可节省费用。
宽敞的单位尺寸 - 搭配1间卧室(36%)、2间卧室(49%)和3间卧室(15%)的平面配置空间,面积从591平方英尺到1,425平方英尺不等,卡林顿公园的平均单位尺寸为1,042平方英尺。
有吸引力的设计单位 - 九英尺高的或拱顶天花板、飘窗、通往私人露台或阳台的法式门、洗衣机/烘干机连接、花园浴缸、设备齐全的厨房搭载食品储藏室,以及所有顶层单位的壁炉。
***FINANCING AVAILABLE***
Please contact the listing brokers to schedule a property tour.
Carrington Park Apartments is a 330-unit garden-style multifamily community centrally located in Jonesboro, Georgia. The property benefits from its strong location just off I-75 near I-675. Carrington Park is 97% occupied and offers investors significant cash flow as well as substantial upside potential through interior upgrades.
Strong Occupancy With Increasing Cash Flow – Carrington Park is currently 97% occupied and generating more than $3.2 million in revenue. Total revenue has increased more than 11% over the last two years. This increase is particularly significant because it was achieved primarily without the benefit of a meaningful interior upgrade program.
Interior Upgrade Program – Carrington Park has upgraded less than 5% of the total units. Upgrades include new black appliance package, new lighting package, new faucets, painted cabinets, installation of 2 inch blinds and new faux hardwood flooring. The approximate upgrade cost is $4,000/unit resulting in a $125 rental premium.
Utility Cost Savings – Expense savings are available by installing water saving devices such as 0.9 gallon toilets and low flow shower heads.
Spacious Unit Sizes – With a mix of 1BR (36%), 2BR (49%) and 3BR (15%) floorplans that range in size from 591 SF to 1,425 SF, Carrington Park offers a large average unit size of 1,042 SF.
Attractive Well Designed Units – Nine Foot or Vaulted Ceilings, Bay Windows, French Doors to Private Patios or Decks, Washer/Dryer Connections, Garden Tubs, Fully Equipped Kitchens with Pantries, Fireplaces on all Top Floor Units.
Comprehensive Community Amenities – Resort Style Swimming Pool, 24-hour Fitness Center, Business Center, Two Lighted Tennis Courts, Controlled Access Ingress/Egress, Detached Garages and Storage Units.
Access – Carrington Park is located on Mount Zion Parkway equidistant (1.5 miles) from Exit 231 (Mount Zion Boulevard) and Exit 228 (Lake Spring Parkway) on I-75. The I-75/I-675 interchange is located less than 2 miles south of the Property. This convenient exposure to Atlanta’s interstate network provides excellent access to all of metropolitan Atlanta and its major employers.
Proximity – Carrington Park residents enjoy a dynamic location in close proximity to major transportation arteries, employment centers, retailers and recreation venues.
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Long-term CMBS fixed rate financing is available from Starwood Mortgage Capital (SMC) for the acquisition of this property. Starwood Mortgage Capital is a direct lender and is a wholly owned subsidiary of Starwood Property Trust, Inc. and LNR Property LLC.
CMBS Long-Term Fixed Rate Loan
- Up to $19,500,000
- 5-, 7- or 10-year loan term
- Interest-only available based on loan-to purchase price followed by 30-year amortization.
- Highly competitive interest rates; call for current rate quotes
- No origination fee
- Non-recourse, except for standard CMBS non-recourse carve-outs
- SMC will issue pre-qualification letters subject to review of Bidder qualification forms (refer to the SMC Financing Qualification Instructions in the Due Diligence tab). Ten-X will count an SMC pre-qualification letter towards a Bidder’s proof of funds when registering to bid for this auction.
For more information and to qualify, please refer to the term sheet and complete the forms found in the “SMC Financing Info” folder located in the Due Diligence Documents tab.
For additional details, please contact:
Steve DeRose
(305) 695-5845
sderose@starwood.com
No agreement (whether written, oral or otherwise) that may be reached during negotiations with respect to financing the Property, nor any course of dealing between the parties, shall constitute a commitment by SMC to lend or otherwise be binding upon the parties unless final binding loan documents have been executed, delivered and accepted by all parties (in which case such agreements shall be binding only to the extent the Loan actually closes). SMC is under no obligation to fund the Loan. This property will be auctioned on Tuesday, November 28 - Thursday, November 30 . The price displayed is the starting bid amount of $10,000,000. For information and to register to bid on this property, please visit Ten-X.com.