- Prime Location in the Center of Dalton, GA
- Proven Value-Add Opportunity through Interior Renovation
- Last-Mile Renovation Upside Opportunity
- Brand New Amenity Package Recently Completed
- Well-Maintained Early 2000’S Construction
- 5.45% Loss to Lease Upside Potential
- Stabilized Asset with Nearly 0% Bad Debt
Prime Location in the Center of Dalton, GA
Dalton, GA, renowned as the “Carpet Capital of the World,” enjoys robust market fundamentals that drive demand for rental properties. Parkview Apartments’ prime location in the heart of Dalton positions it to cater to the city’s thriving workforce, as well as tenants drawn to the area’s unique attractions and cultural amenities. Its central location offers convenient access to major employers, retailers, parks, and entertainment venues, making it an ideal choice for renters seeking both convenience and high-quality living.
Proven Value-Add Opportunity through Interior Renovation
Parkview Apartments present an excellent value-add opportunity through interior renovations. The current owner has renovated 23 units with interior cosmetic upgrades. Eleven of the renovated units have achieved $1,025 per month on 12-month leases! There are still 29 classic units primed for renovation. By increasing the average rent of $845 on the 2 BR units to the consistently proven rent of $1,024, new ownership can increase rents by $179 per unit, or 21.25%! Annually, that is a $62,292 increase in top-line revenue!
Last-Mile Renovation Upside Opportunity
Although the already upgraded units have a clean finish, there is additional interior renovation upside here to match the comp set and push rents to our proforma projections. By adding stainless steel appliances, cabinet fronts, upgraded hardware and a light fixture package, new ownership can achieve an additional $110+ per unit while still trending below nearby comps! This last-mile renovation opportunity is untapped and clearly shown in the comp set.
