Amber Place Project in Central Georgia.
This project of 392 units with 94% occupancy is located in Warner Robins: central Georgia, growing economic area with over 30,000 jobs, home to Robins Air Force Base and Warner Robins Air Logistics Complex, which combined form Georgia’s largest industrial complex, one of only three such centres in the nation, high level of education, medical, retail, transportation with significant growing population.
The following highlights for this project:
1. A Class complex, was built in 2007. Including: fitness centre, swimming pool, Tennis
court, theatre room, Sauna, exc..
2. Very strong area: high level of education, transportation, diversity of employers.
Warner Robins is well known as one of Middle Georgia’s fastest growing communities.
3. Project cost: $44,517,572. Equity needed to raise: $14,216,259
4. Cost per unit (after getting the bank’s loan): $36,266
5. The strategy: we invest 2M in renovations. We renovate: 294 units for $4500 per unit
which will increase the rent in $100 per month.
6. Average 8% yield per year.
7. Projected ROI after 5 years’ time: 101.98%
8. Projected yearly IRR: 16.8%
Property type: stories 2, unit 392, 104,476 SF
Completed in 2007 this A Class, property is located in an affluent community with an average
area household income of $84,859
Varity of BR apartments designs 1BR, 2BR, & 3
Current occupancy rate 94%
Potential for an interior add-value program that can boost rents by $75-$100
Total All-In Cost: $44,517,572
Total Equity: $14,216,259
Holding Period: 5 years
Debt Total: $30,301,313
Price Sales: $53,356,076
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