Pine Lake Apartments
The Haverly is a 360-unit, 363,000 net rentable square foot, two and three-story, 27 building walk-up apartment complex sited on a 35-acre parcel of land located in Stone Mountain, Georgia, immediately adjacent to Pine Lake. It is a garden and townhome apartment complex with attached breezeways and grade entrances. The complex also features two outdoor swimming pools, a playground, two tennis courts, a clubhouse with a fitness center and a laundry facility. These apartments offer an opportunity to compensate loss-to-lease and significantly boost rental income. The asset is well occupied and positioned as one of the highest quality and best amenitized assets in the submarket. It contains spacious one and two-bedroom floor plans, with the average individual apartment size 1,010 square foot. There is excellent visibility and exposure facing the well-travelled Memorial Drive as well as a direct connection to Decatur, downtown Atlanta and employment centers. This complex was acquired recently and is worth in excess of $30 million.