Terraces at Highbury Court | 50 Mount Zion Rd SW
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Terraces at Highbury Court 50 Mount Zion Rd SW
172 Unit Block of Flats £13,570,800 (£78,900/Unit) 7.30% Net Initial Yield Atlanta, GA 30354
Investment Highlights
- Assumable Loan - No Seller financing - LIHTC property
- The LIHTC restrictions can be terminated via the Qualified Contract process
- Located less than 6-miles from Hartsfield-Jackson Atlanta International Airport, home to over 63,000 jobs
- The gross rent limits at the asset increased 3% in 2024, creating additional rental upside
- Conveniently located within a 30-minute drive of nearly 1.1M jobs
Executive Summary
Terraces is a 172-unit LIHTC property placed into Tax Credit service in 2005 (built 1970) and offers significant investor returns once operations are stabilized. Assuming the current debt results in a high LTV at 5.77% interest, with two years remaining interest only.
The property is eligible to go through the QC process and the documents for the process are available. A new owner would have the option to take it through a QC process to become a market rate property or continue to manage it as LIHTC . Insurance loss runs have been provided in the Document Center and reveal no recent claims.
The property is eligible to go through the QC process and the documents for the process are available. A new owner would have the option to take it through a QC process to become a market rate property or continue to manage it as LIHTC . Insurance loss runs have been provided in the Document Center and reveal no recent claims.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Title and Insurance
- Miscellaneous
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £13,570,800 | Building Class | C |
| Price Per Unit | £78,900 | Lot Size | 14.91 AC |
| Sale Type | Investment | Building Size | 185,692 SF |
| Net Initial Yield | 7.30% | Average Occupancy | 84% |
| No. Units | 172 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.62/1,000 SF |
| Apartment Style | Garden |
| Price | £13,570,800 |
| Price Per Unit | £78,900 |
| Sale Type | Investment |
| Net Initial Yield | 7.30% |
| No. Units | 172 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 14.91 AC |
| Building Size | 185,692 SF |
| Average Occupancy | 84% |
| Number of Floors | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.62/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Ice Maker
- Refrigerator
- Wheelchair Accessible (Rooms)
Site Amenities
- Business Centre
- Clubhouse
- Fitness Centre
- Picnic Area
- Playground
- Property Manager on Site
- Gated
- Grill
- Package Service
- Rubbish Collection - Kerbside
- Maintenance on site
- Online Services
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 16 | £847.39 | 840 |
| 2+1 | 40 | £932.99 | 1,080 |
| 2+1.5 | 100 | £1,068 | 1,100 - 1,154 |
| 3+2 | 16 | £1,071 | 1,224 |
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PROPERTY TAXES
| Parcel Numbers | Total Assessment | £2,205,286 | |
| Land Assessment | £557,318 | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £1,647,968 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£557,318
Improvements Assessment
£1,647,968
Total Assessment
£2,205,286
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | RG2 |
| RG2 |
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Terraces at Highbury Court | 50 Mount Zion Rd SW
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