6862 Mableton Pkwy SE, Mableton, GA, 30126-6400, US

The Parkton

Asset description

Jones Lang LaSalle (“JLL”) has been retained as the exclusive sales representative for The Parkton (the “Property”), an exceptional 137-unit community located in Cobb County, one of Atlanta’s most dynamic and sought-after submarkets. Situated in a prime location, this 2000 vintage property offers residents the best of both worlds – a tranquil retreat with convenient access to an abundance of employment opportunities.

One of the standout advantages of The Parkton is its unparalleled connectivity. With its close proximity to both Interstate-20 and Interstate-285, residents can effortlessly navigate the city and enjoy easy commutes to nearby Fortune 500 headquarters and other premier organizations. This strategic positioning ensures that residents have access to a wealth of employment options and the ability to enjoy a hassle-free, convenient lifestyle.

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Attributes

Units

137 units

Occupancy

94%

Year built

2000

Year renovated

2018

Building area net

14,450 sm

Land area net

5.16 ha

Media

Investment highlights

Proximity to Employment

With three Fortune 500 Companies located in Cobb County, The Parkton is within a short drive to a number of large employment offerings including The Home Depot, Lockheed Martin Corporation, and many more.

Minimal Capital Expenditures

As a well-maintained, 2000s vintage property with recently completed interior renovations coupled with proper maintenance, The Parkton presents an exceptional investment opportunity with minimal capital expenditures required.

Surging Cobb County Submarket

Since 2020, market rate apartments in Cobb County have seen total rent growth of over 18% while maintaining an average occupancy in the low to mid 90s%.

Limited New Competition

As one of the premier assets in Mableton, The Parkton faces minimal new competition with only one conventional multifamily project in lease-up within a 3-mile radius.

299c Tax Freeze

The Parkton has a 299c Tax Freeze through 2025, allowing for investors to realize improved cash flow early on while the taxable amount remains constant for the next two years.