Abbey Lake Apartments

Investment Summary

Property:

Abbey Lake is 152 unit apartment community constructed in 1975 and 2010 located in Thomasville, GA on the Georgia-Florida. This is a, stabilized asset with a competitive amenity packages that includes a renovated club house with leasing office, 2 pools, dog park and large green space.  Historically, the asset has enjoyed consistent occupancy above 95%.


Thomasville is strategically located on six four-lane divided highways to serve the two fastest growing states in the country.  Thomasville serves a population of 155,000. With 122 industries, it provides jobs for 40 percent of the area population and 50 percent of total area retail sales.


Strategy

Maximize rent potential and investor returns through a combination of implementing a capital improvement plan and enhancing  the overall appeal and marketability of the Property in order to bring rents to already proven market levels. 

Opportunity Highlights

Our business plan includes the following improvements.

  

  • Current Management has not implemented best practices designed to bring rents up to market levels. Our rent model brings rents for all unit types up to market levels that have already been proven at a similar property next door.


  • Address various deferred maintenance and cosmetic upgrades including replacement of all windows and sliding glass doors, exterior painting, repair and reseal the parking lot, as well as landscaping throughout the property. Improving exterior appearances will attract higher quality tenants, facilitate leasing, justify higher rents and shorten turnover time, all of which will improve the net operating income.


  • In addition to improving the current property and operations, there is ample space for us to build 36 additional units by right. 

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