The Hills at East Cobb

Desirable Construction Fundamentals with Large Floorplans and Significant Capex Spent in Last 5 Years: Built in 1972, The Hills at East Cobb features a mix of studio, one-, two-, three-, and four-bedroom garden-style and townhome residences with spacious floorplans averaging 1,345 square feet. The units feature washer/dryer connections and the asset has benefited from nearly than $6.2 million in capital improvements over the past 6 years, including the installation of all new architectural shingle roofs and new dual-pane windows on approximately 50% of the units. Additionally, approximately 65% of unit interiors have been renovated, positioning the asset for continued operational upside.

Affluent, High-Growth Demographics in Top-Ranked East Cobb School System: The Hills at East Cobb is located in a rapidly growing, affluent, and highly educated pocket of East Cobb and benefits from its location within the highly coveted East Cobb school district, one of Metro Atlanta’s most sought-after public school systems. Within a three-mile radius, average household incomes exceed $111,000 (with a median household income of $85,000), and average home values surpass $434,000.

Immediate Upside Through Physical Occupancy Improvement: The property currently stands at 90% overall occupancy. Similar vintage competitors in the submarket consistently average 93% occupancy with higher rental rates, highlighting the property’s near-term upside through targeted lease-up to gain an additional $368,000 of NOI.

Market Supported Upside Through Interior Value-Add Program: Current ownership has renovated 65% of the property’s units, demonstrating strong demand for upgraded interiors. New ownership can complete renovations on the remaining 92 classic units, generating an estimated $153,000 in additional annual revenue through a proven, low-risk value-add program. 

Proximity to Platinum Triangle Employment Hub & The Battery Atlanta: The Hills at East Cobb benefits from proximity to Atlanta’s Platinum Triangle, the region’s largest concentration of Class A office space, and major employment centers including Wildwood Office Park, home to several Fortune 500 companies. The property is also located just six miles from Truist Park and The Battery Atlanta, a $1.1 billion mixed-use destination that serves as a year-round economic and entertainment hub for the region.