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Audobon Place

B-class community comprised of 126 units.



Property:


Audobon Crest is a B-class community comprised of 126 units. The property sits in a highly desirable location within Hall County, located in the city of Oakwood, giving residents the ability to commute easily between Gainesville & the Sugarloaf Business District for employment.


Strategy:

Reposition the property from a former “tax credit” (lower income) property into a market-rate property. Implement renovations and improvements along with strong management to improve the resident demographic.


Appeal to a much higher resident demographic who is looking for a better value than A+ luxury but wants to live in a fully amenitized property that is well run.


Highlights:

Our business plan includes the following improvements.

  • With a renovation budget of $1,069,000, we are upgrading all units to achieve market rents.

  • The property also has some external repairs that will be addressed in our budget help beautify the property and appeal to a more upscale tenant base.

  • We’ll also convert this to a “Green Asset” by installing energy saving devices such as low-flow toilets and LED lighting.

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