The Reid

11-16-2021
11-16-2021

2190 Northlake Pkwy, Tucker, GA 30084

  • Strong lease-up: First move-ins in March 2021 and currently 94% leased
  • Rent roll poised for appreciation: Only 10 lease expirations between now and May 2022 giving next owner the Spring/Summer leasing season to push rents
  • Better than 8% cash-on-cash YR1
    • Year-one 4% cap with NO rent growth (just burning off loss-to-lease)
    • DeKalb RE tax abatement significantly increases early yield
    • 10-year abatement with 2022 staring at 65% tax abatement (6.5% reduction annually)

Unit Mix

Description No. of Units Sq ft. Avg. Monthly Rent
Low-Rise 242 967 $ 1,572

Key Property Information

Listing Status
Available
Listing Type
Call for offers
Multifamily type
Garden Style
No. of Units
242
Average Occupancy
88%
Year Built
2021
Building Size
232,799.99 Sq ft
Lot Size
334,540 Sq ft
No. of Stories
5
No. of Parking Spots
360
Opportunity Zone
Off
Buy Side Fee
0%
Price per unit
$ 0
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33.848838, -84.245498