The Marquis at Mount Zion Apartments,
7290 Southlake Parkway, Morrow, GA 30260
Syndicated Price $21,400,000
Equity Raise $8,863,000
- Loan to Value 58.58%
- Debt $12,537,000
- Minimum TIC Investment $100,000 (1.13%)
- Year 1 Cash-on-Cash Yield 6.25%
The Marquis at Mount Zion Apartments, built in 2000, is a Class A asset located within the city of Morrow, a submarket in the southern part of greater Atlanta, Georgia.
7290 Southlake Parkway, Morrow, GA
The Marquis at Mount Zion Apartments offer a very functional location, excellent curb appeal, and a competitive amenity package while maintaining seclusion and privacy.
Investment Highlights
The Marquis at Mount Zion Apartments, built in 2000, is a Class A asset located within the city of Morrow, a submarket in the southern part of greater Atlanta, Georgia. The property features large, well-maintained average unit sizes (1,040 square feet). Competitive upscale amenities include:
- Controlled Gate Access
- Swimming Pool
- Fitness Center
- Tennis Court
- Playground
- Detached Garages / Storage Units
- Laundry Facility
- Car Care Center
- Central Trash Compactor
- Mail Kiosk
The Marquis Apartment homes are appointed with attractive features:
- Nine (9) Foot Ceilings with Crown Molding
- Fully Equipped Kitchen w/GE Appliances
- Open Breakfast Bar
- Frost Free Refrigerator with Icemaker
- Washer/Dryer Connections
- (68) Units Include Wood-Burning Fireplaces
The Marquis at Mount Zion Apartments offer a very functional location, excellent curb appeal, and a competitive amenity package while maintaining seclusion and privacy. This market-leading asset is located just one mile from Interstate 75 and the one million square foot Southlake Mall. It is an area with consistent population growth at the epicenter of major retail and employment districts.
Property Summary
Located approximately one mile from the interchange of I-75 (156,640 vehicles/day) and Jonesboro Road (34,130 vehicles/day). The property fronts Southlake Parkway (26,760 vehicles/day).
- Class “A” Property on 33.24 Acres; density of 7.8 units/acre
- Built in 2000
- 260 Units
- 270,332 Rentable SF
- 1,040 SF / Unit
- 95.77% Occupancy – 11/17/08
- 580 Parking Spaces including 18 detached garages
- 12 two and three story residential buildings, leasing office, clubhouse, and 3 garage buildings
Demographics
Clayton County is located in the southern section of the Atlanta metro area. The County’s northern boundary lies just eight miles south of downtown Atlanta. Municipalities include Jonesboro, the county seat, and Forest Park, Lake City, Riverdale, Morrow and Lovejoy.
Over the past two decades, rapid expansion and development in Atlanta’s north suburbs also exponentially increased commute times in those areas. The subsequent overburdening of transportation arteries, coupled with exorbitantly long commutes, produced a backlash and return to “closer-in” living. Consequently, the close-in southern suburbs, including Clayton County, have benefited from “in-migration” demographic patterns.
ABOUT TIC Marquis
101 N. Main Street, 12th Floor, Greenville, SC 29601 | 800.577.4842 | www.ticproperties.com