7 Home SFR Investment Portfolio Atlanta GA
Listing was updated at: 09/10/2019
Property Overview
Price/Rent PSF $ 1,925,790.00
Asset Type Multifamily
Trade Type Sale
SQ. FT. Available 19,334
Date Available 09/10/2019
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Atlanta, which is already well known as one of the largest metropolises in the south, just saw a 1.29% population increase from 5,874,249 in 2017 to 5,949,951 in 2018. Right along with the population growth, job growth has moved at an equally rapid pace with employment increasing 2.4% year over year which is 0.7% higher than the 1.7% national rate of job growth. Between population and job growth alone, it no surprise that Atlanta ranks third in cities that house the most Fortune 500 Companies. It also ranks third in “Best Cities” for startups, just under New York and San Francisco.

What is even more impressive than startups and Fortune 500 companies flocking to the area, is the film industry’s growth and success. Atlanta has been recently named the number one place to live and work as a filmmaker by Moviemaker.com. In 2008 then-Governor Sonny Perdue signed a generous tax incentive for film productions. The law’s incentive is similar to that of New York and Louisiana; however, Georgia’s law has no end date. From 2007 to 2016 the film industry has exponentially increased its spend on productions from $93 million to over $2 billion. Georgia’s government estimates that in 2016 alone the film industry gave the state a $7 billion economic boost. Furthermore, there is evidence of longevity in the film industry finding a southern home in Atlanta. Studios, such as Pinewood which has hosted Marvel films, are building permanent campuses. Furthermore, the state has funded educational institutions to further foster the growth, such as the Georgia Film Academy which trains aspiring crew members and provides graduates a direct line to local production companies in the area.

This 7 home portfolio is a great small-scale acquisition or addition to an existing portfolio as a turn-key, fully leased investment with a 100% occupancy rate and containing only qualified & background-checked tenants. Being offered by a large SFR operator, this portfolio is one of multiple portfolios being sold by the seller. It is fully ‘cherry-pickable’, and can be packaged with properties from the additional portfolios to create a customized portfolio unique to your investment criteria and target markets.

Scattered around the popular Atlanta metro area, this portfolio offers a great opportunity for an investor to enter this hot and ever-expanding market. The homes in this portfolio are currently achieving close to full market rents with an average rate of $1,831 per door, giving a new investor opportunity to increase the rents to $1,921 per door. This 5%, economic value add rent increase will put the new owner at top market rates, yielding more attractive returns. Atlanta renters tend to demand and pay higher rents for higher bed counts in their desired homes above any other MSA and this portfolio offers exactly that. With 4 - four-bedroom and 3 - five-bedroom homes, all with attached garages, this group of homes will have no problem staying fully leased. They are all relatively new, with a 2002 average vintage and all having gone through an extensive remodel in 2013. The average dwelling square-footage of this portfolio is 2,762 square-feet per home. All of these homes are located in desirable neighborhoods and top school districts in the area, with almost all schools rated above an 8/10 according to GreatSchools.org.

According to a RentCafe report published in January 2019, research shows the Atlanta MSA is home to 6 out of the nation’s top 20 suburbs for renters. RealPage. Reports that rent rates in Atlanta have increased 4.8% over the last year, (only trailing behind Las Vegas and Orlando), while still maintaining a high average occupancy of 94.7%. This far surpases the nationwide average rent increase at 3.3% in 2018 as well.