Adams Investor Group Completes Sale of 168 Unit Apartment Complex
Adams Investor Group (AIGP) is pleased to announce the recent sale of Mountain Oaks, a 168 unit apartment complex sold for $12.3 million located in Stone Mountain, Georgia a suburb of Atlanta.
Apartment investing continues to be profitable, especially in the Atlanta metro area.
Atlanta has become a very solid market in all respects. From education to jobs to quality of life, Americans have been flocking to the Georgia’s capital for over a decade and it shows.
Back in May of 2018, Adams Investor Group (AIGP) found what they felt was a hidden gem.
In the Stone Mountain suburb, the investment syndicate purchased Mountain Oaks apartments, a 168 unit garden style multi-family property for a total purchase price of $8.6 million.
“Mountain Oaks had a lot of potential,” Brian Adams, founder of AIGP commented, “It was already a nice looking property, yet it needed interior improvements and the rents were below market.
We knew that by putting in a little elbow grease, we could polish up this gem and really make something of her.”
That’s exactly what AIGP did. Once purchased, Adams instituted his proven value-add strategy of property improvement. The grounds were given a little TLC, deferred maintenance on the exteriors was addressed and most important, the interior units were given a small but significant overhaul.
With these improvements in place, the rents were brought up to current market values and not only did the property pull in more cash flow for its investor owners, the team built in huge amounts of equity virtually overnight.
“There’s a formula to our success,” Adams says, “A formula we’ve been perfecting for a long time. Because we accept only accredited investors as limited partners to share in the cash flow, tax incentives and potential upside, I take the entire process very seriously.
It’s a truly rewarding strategy because we all make money and we also give residents the best possible community in which to live.”
As Adams often says, in his opinion, apartment investing is the absolute best of all investments, and when you see success stories like Mountain Oaks, it’s easy to understand why.
AIGP is pleased to announce that after these strategic upgrades, rental increases and other management decisions, Mountain Oaks was sold for $12.3 million.
In only 16 months of ownership, AIGP added $4 million in value to Mountain Oaks generating a huge profit for all of the investors.
AIGP continues to seek new deals that generate long-term wealth and tax advantages for its investing partners.