CS1031 Fairway View Apartments, DST

Location: 3348 Fairway Oaks Drive, Lawrenceville, Georgia 30044

INVESTMENT COST: $32,105,000

EQUITY RAISE: $13,775,000

  • CASH-ON-CASH RETURN: 6.0%
  • OFFERING LOAN TO VALUE: 57.09%
  • FIXED INTEREST RATE: 3.69%
  • LOAN TERMS: 10-Year Term

The property qualifies for Fannie Mae’s Green Financing Program – lower utility bills and reduced interest rate A Cost Segregation Study will be available to help investors maximize tax benefits

Fairway Oaks Drive, Lawrenceville, Georgia

The property is stabilized as a result of capital expenditures completed by the prior owner. Approximately 80 percent (188) of the units have been updated with new black appliances, vinyl flooring, lighting/plumbing fixtures, cabinets and faux granite counters. 

Property Highlights

  • 243-unit apartment community was constructed in 1974 and updated over the past two years
  • Community is adjacent to the 200-acre Northwood Country Club golf course – premier country club within Gwinnett County – offering beautiful views and landscaping
  • Approximately 40 percent of units are townhomes, a desirable floor plan for families

STABILIZED PROPERTY

  • The property is stabilized as a result of capital expenditures completed by the prior owner. Approximately 80 percent (188) of the units have been updated with new black appliances, vinyl flooring, lighting/plumbing fixtures, cabinets and faux granite counters. These renovated units are generating a premium of approximately $50 per month over the remaining 45 unrenovated units. An additional 10 units have been upgraded to higher standards, generating a premium of $250 over unrenovated units of same floor plan.

    Property in excellent school district; stable cash flow with upside from unit upgrades.

Property Overview

  • One-, two-, three- and four-bedroom units with an average size of 1,089 square feet
  • Located on 20.36 acres of land
  • 264,716 net rentable square feet
  • Occupancy: 94% as of August 2017
  • 26 two- and three-story residential buildings and stand-alone clubhouse/office, laundry and maintenance buildings

Community Amenities

  • Golf Course Views
  • Clubhouse
  • Coffee & Tea Bar
  • Playground
  • Sports Court
  • Swimming Pool
  • Grilling/Picnic Area

Distance to Employment Drivers

  • Sugarloaf Parkway: 3 miles | 50,000 jobs
  • Lilburn 4.5 miles | 2,540 employers
  • Norcross 5.5 miles | 2,000 jobs
  • Snellville 7 miles | 3,827 employers
  • Tucker 10 miles | 3,889 employers
  • Emory/CDC/Druid Hills 14 miles | 40,000 jobs
  • Midtown & Downtown 18 miles | 185,000 jobs
  • Conyers 19 miles | 1,937 employers
  • Covington 25 miles | 1,937 employers
  • Airport 25 miles | 63,200 jobs (500,000 ancillary jobs)

ABOUT CAPITAL SQUARE

Capital Square 1031, LLC specializes in the creation and management of real estate investment programs for Section 1031 exchange investors and other investors using the Delaware Statutory Trust structure. Louis J. Rogers, founder and chief executive offi cer of Capital Square, has been involved in the creation and management of more than 100 investment offerings totaling over $3 billion, including DSTs, tenant-in-common offerings, numerous real estate funds, and multiple publicly registered non-traded real estate investment trusts.