Audubon Communities has finished $400,000 of capital improvement work on Sundance Creek, a 232-unit apartment community near Atlanta. The firm renovated the property’s leasing office and updated the clubhouse and amenities. Audubon picked up the asset from PASSCO Real Estate in mid-2016 for $23.5 million, according to Yardi Matrix data.
“We have renovated several units already at Sundance Creek and will continue to do so as needed, although the units are in good condition,” Christopher Edwards, managing director of Audubon Communities, told Multi-Housing News. “The improvements we’ve made to date, which have focused on improving curb appeal and better utilizing space in the clubhouse, have helped push our occupancy rate to 95 percent while also raising the profile and appeal of the property. We anticipate this will translate into higher rents and occupancy.”
Located at 575 McDonough Parkway in McDonough, the community sits on a 6.8-acre parcel, approximately 30 miles from downtown Atlanta, accessible via Interstate 75. The asset’s 26 two-story buildings are within a mile of the Jonesboro Road retail corridor, home to a variety of shopping and dining options.
Unit and amenity mix
Built in 2004, the community contains a mix of one- and two-bedroom townhome units, ranging in size from 768 to 1,152 square feet. Monthly rents begin at $815, climbing to $1,045 for larger apartments, according to the property’s website. The pet-friendly property’s on-site amenities include a fitness center, laundry facilities, a business center, a swimming pool, two outdoor kitchens and controlled access gates, as well as 350 parking spaces available for residents for an additional monthly charge.
Image courtesy of Yardi Matrix