846 BRIARCLIFF ROAD Atlanta, GA OFFERING MEMORANDUM TOURS AVAILABLE UPON REQUEST, PLEASE DO NOT DISTURB TENANTS1 846 BRIARCLIFF ROAD Atlanta, GA CONNOR KERNS AUSTIN GRAHAM Senior Associate, Multifamily Senior Associate, Multifamily +1 (404) 445-1090 +1 (404) 445-1091 [email protected] austin,[email protected] License No. SL3417384 (FL) License No. 408272 (GA) DAVID HARRINGTON EVP & Managing Director, Multifamily +1 (310) 295-1170 [email protected] License No. 01320460 (CA) KYLE MATTHEWS Broker of Record License No. 67120 (GA) 2 PROPERTY AREA FINANCIAL OVERVIEW OVERVIEW OVERVIEW 4 10 20 846 BRIARCLIFF ROAD Atlanta, GA PROPERTY OVERVIEW 4 OPPORTUNITY MatthewsTM Real Estate Investment Services is proud to offer 846 Briarcliff Rd. located in the Virginia Highlands in Atlanta, Georgia. This 6-unit apartment building presents an opportunity for an investor to purchase an asset in one of the top emerging markets in the United States. Tenants appreciate and enjoy the quiet residential neighborhood, while still being located near Downtown Atlanta as well as all of Atlanta’s main attractions. Located walking distance to many parks, restaurants, and The Atlanta Beltline Eastside Trail. This property consists of a desirable and unique unit mix of (2) Studio, (3) One Bedroom/One Bathroom, and (1) Three Bedroom/Two Bathroom Units. This offering presents the opportunity for an investor to purchase an asset in an extremely high demand rental market that still has tremendous growth potential with the opportunity to recapture a significant upside percentage in rental rates. PROPERTY DESCRIPTION • 6 Units, Built in 1930 • Walk Score: (85) Very Walkable • Gross Building Square Footage of 8,932 SF • Transit Score: (43) Some Transit • Consists of (2) Studio, (3) One Bedroom/One Bathroom, and (1) Three • Significant Capital was spent on Mold Mitigation last year. Bedroom/Two Bathroom Units. • Capital Improvements made to the property as necessary. • Lot Size: .30 Acres • New Roof – 2 years old • Density: 20 Units/AC • Brand New Downspouts & Drainage – Significant Cap Ex Expense. • 7 Free Surface Parking Spaces Available in the back of the property. • 90% PVC Piping • APN: 15-241 -03-014 • Copper Wiring – Replaced all Fuse Boxes with Breaker Boxes. • Zoning: RM100 • All Units have Smoke Detectors & Fire Extinguishers • Masonry Construction • HVAC: Window Units • Building Height: 27’ 5 846 BRIARCLIFF RD 6 7 8 9 846 BRIARCLIFF ROAD Atlanta, GA AREA OVERVIEW 10 ATLANTA Atlanta is the capital of and the most populous city in the U.S. state of entertainment. It ranks 36th among world cities and 8th in the nation Georgia, the cultural and economic center of the Atlanta metropolitan with a gross domestic product of $270 billion. Atlanta’s economy area, and the ninth-largest metropolitan area in the United States. is considered diverse, with dominant sectors including logistics, Atlanta has a diversified economy with healthy concentrations in professional and business services, media operations, and information transportation/logistics, media, information technology, entertainment, technology. tourism, financial services, government, and education and healthcare. Atlanta is home to 30 headquarters of Fortune 500/1000 companies. In Atlanta is home to professional franchises for three major team sports: fiscal year 2019, these 30 companies generated an aggregate revenue the Atlanta Braves of Major League Baseball, the Atlanta Hawks of the of $438 billion. National Basketball Association, and the Atlanta Falcons of the National Football League. Due to the more than 30 colleges and universities Atlanta is an “alpha-” or “world city”, exerting a significant impact upon located in the city, Atlanta is considered a center for higher education. commerce, finance, research, technology, education, media, art, and 25 #1 #1 FORTUNE 500/1000 HEADQUARTERS MOST-TRAVELED AIRPORT IN THE WORLD BEST STATE FOR DOING BUSINESS POPULATION 1-MILE 3-MILE 5-MILE 2026 Projection 19,053 179,203 452,356 2021 Estimate 18,530 170,098 429,542 846 BRIARCLIFF RD 2010 Census 18,023 138,505 347,091 Growth 2021-2026 0.6% 1.1% 1.1% Growth 2010-2021 0.3% 2.1% 2.2% HOUSEHOLDS 1-MILE 3-MILE 5-MILE 2026 Projection 9,900 87,788 206,196 2021 Estimate 9,689 83,309 195,732 2010 Census 9,830 68,277 159,221 Growth 2021-2026 0.4% 1.1% 1.1% Growth 2010-2021 0.2% 1.7% 1.7% HOUSEHOLDS 1-MILE 3-MILE 5-MILE Average HH Income $144,571 $126,867 $117,283 11 #8 BEST CITY IN THE SOUTH - Southern Living, “The South’s Best Cities, 2020” ATLANTA TOURISM Atlanta is the most-visited destination in the state of Georgia. Atlanta offers lots of tourist attractions such as the Georgia Aquarium, the World of Coca-Cola, the Atlanta Botanical Garden, and many more. Atlanta also hosts several annual food, film, and music festivals each season. Atlanta is known for its fabulous shopping malls. Shopping centers ATLANTA BRAVES such as Lenox Square with 250 stores, Perimeter Mall with 158 stores, and Cumberland Mall with 143 stores all make (Major League Baseball) Atlanta a shopaholic’s paradise. Atlanta is also home to five professional sports teams: Atlanta Hawks, Atlanta Falcons, Atlanta United FC, Atlanta Braves, and Atlanta Thrashers. Over 50 million people visit Atlanta annually. ATLANTA FALCONS (National Football League) ATLANTA HAWKS (National Basketball Association) ATLANTA EVENTS Atlanta celebrates various events and festivals each year. Food festivals include the Beer, Bourbon, and BBQ Festival in the spring, the Atlanta Food and Wine Festival in the summer, the Atlanta Greek Festival in the fall, and the Oysterfest in the winter. Music and film festivals include the Shaky Knees Music Festival in the spring, the Tunes from the Tombs at Historic Oakland Cemetery in the summer, the Imagine Music Festival in the fall, and the Atlanta Jewish Film Festival ATLANTA UNITED FC in the winter. (Major League Soccer) 12 MUSEUMS & ART A MLK JR. NATIONAL HISTORIC PARK B ATLANTA HISTORY CENTER C FOX THEATRE D NATIONAL CENTER FOR HUMAN RIGHTS H E FERNBANK MUSEUM 846 BRIARCLIFF RD F DELTA FLIGHT MUSEUM D G JIMMY CARTER LIBRARY AND MUSEUM E H HIGH MUSEUM OF ART A B TO DO J I A PIEDMONT PARK H CHATTAHOOCHEE RIVER C NATIONAL RECREATION AREA K B ATLANTA BOTANICAL GARDEN I MERCEDES BENZ STADIUM B C ATLANTA BELTLINE J SKYVIEW ATLANTA D H F D CENTENNIAL OLYMPIC PARK A E TRUIST PARK C B E H F STONE MOUNTAIN PARK D F C G ATLANTA ZOO I E D G SHOPPING J A ATLANTA HAWKS A CUMBERLAND MALL I BUCKHEAD STATION G (National Basketball Association) B ROSWELL-WIEUCA CENTER J PHIPPS PLAZA C BRIARCLIFF SHOPPING CENTER K LENOX SQUARE D BUFORD HIGHWAY FARMERS MARKET F E EDGEWOOD RETAIL DISTRICT F ATLANTIC STATION G THE DISTRICT AT HOWELL MILL H TOCO HILLS SHOPPING CENTER Area Overview 13 13 GLOBAL HEADQUARTERS ATLANTA ECONOMY Metro Atlanta is recognized as an international gateway and the economic engine of the Southeast. As the largest economy of all metros in the region, metro Atlanta offers diverse businesses and services, with dominant sectors including logistics, professional and business services, media operations, and information technology. ACCORDING TO INVEST ATLANTA, 1.9M JOBS ARE TO BE CREATED BY 2040 AND THE RESIDENT POPULATION WILL INCREASE TO 1.5M BY 2050. Encompassing $304 billion, the Atlanta metropolitan area is the eighth-largest economy in the country and 17th-largest in the world. HOME TO 26 OF AMERICA’S LARGEST CORPORATIONS (FORTUNE 1000) AND 220 OF THE NATION’S FASTEST-GROWING PRIVATE COMPANIES (INC. 5000), metro Atlanta is a premier location for regional and global headquarters. In fact, Atlanta contains the country’s third-largest concentration of Fortune 500 companies. Over 75 percent of Fortune 1000 companies conduct business operations in the Atlanta metropolitan area, and the region hosts offices of about 1,250 multinational corporations. Metro Atlanta is a thriving ecosystem for entrepreneurs and new businesses. In 2017, ATLANTA WAS NAMED A RUNNER-UP TO THE TOP 20 TECH STARTUP ECOSYSTEMS GLOBALLY AND ONE OF THE TOP 10 CITIES FOR CORPORATE INNOVATION. There is an abundance of creative energy, talent, and entrepreneurial spirit in metro Atlanta. Many companies choose metro Atlanta to locate their innovation centers. #1 METRO AREA TECH HUB Atlanta is home to more than 64 accredited universities, colleges, and technical schools. Atlanta is home - Business Facilities, “2020 Metro Rankings Report” to three national universities which together account for approximately 100,000 in students, faculty, and staff. THE COLLEGES AND UNIVERSITIES IN THE ATLANTA REGION CREATE OVER 130,000 JOBS FOR THE STATE OF GEORGIA AND HAVE HIGH CONTRIBUTIONS TO THE STATE’S ECONOMY. According to the Metro Atlanta Chamber of Commerce, Atlanta is a national leader in attracting college-educated 25 to 34-year-olds to the region. 14 TECHNOLOGY Atlanta is home to world-class technology community – from startups to FORTUNE 500 companies with strengths in FinTech, cybersecurity, IoT/mobile, health IT, digital media, and MAJOR EMPLOYERS supply chain. Headquartered in Atlanta’s Technology Square, the Advanced Technology Development Center (ATDC) is a startup incubator at Georgia Tech that helps technology COMPANY # OF EMPLOYEES entrepreneurs in Georgia launch and build successful companies. ATDC serves as the hub for Delta Air Lines 34,500 technology entrepreneurship in Georgia. ATDC Select is a three-year incubator program for high potential technology companies. In addition, ATDC provides services open to all technology Emory University/Emory Healthcare 32,091 entrepreneurs in Georgia. According to Forbes, ATDC is one of the twelve business incubators The Home Depot 16,510 changing the world. Northside Hospital 16,000 Piedmont Healthcare 15,900 Publix Super Markets 15,591 SUPPLY CHAIN & ADVANCED MANUFACTURING WellStar Health Systems 15,353 Atlanta is the global logistics hub for the Southeast with an extensive intermodal network of air, road, rail, and port.