St. Phillip Villas

• Garden-style multifamily community with large floor plans and a family-oriented unit mix.
• Brand New Pickleball Court, Gazebo, Fire Pit, Outdoor Grilling area & Playground.
• Central HVAC – 20 New Units
• Electric & Gas – Individually Metered Copper wiring
• Water – Master Metered PVC Plumbing Each Unit has its own Water Heater. Exact ages are difficult to predict, but 10 water heaters have been replaced recently.
• Roofs: 6 years old.
• 23-Units are fully upgraded with New Stainless-Steel Appliances, Washer/Dryers, LVP Flooring, and New Paint. 11-Units are partially upgraded.
• All Units have Washer/Dryer Hookups. Owner owns the W/D machines inside the 23 renovated units. These rent for $50/month in addition to the rent.
• All Units have a Private Patio/Balcony with a private storage closet.
• No Affordable Housing restrictions. 7 Units are currently occupied by Section 8 voucher tenants.
• Opportunity to capture rent growth through renewals and mark-to-market upside while maintaining a competitive rent point relative to larger South Atlanta suburbs.
• Attractive basis relative to replacement cost given 2001 vintage construction, large unit sizes, and land coverage below many infill garden-style assets.