Prospect Heights & Carroll Gardens  |  Macon, GA

80 UNITS · 2 COMMUNITIES

  Purchased  October 2015   Price  $1,720,000   Profile  80 units; 2 communities   Equity Raise  ~$600,000   Opportunity  ROI 30%, annualized return 27%   Update  Sold: July 2017 | Price: $3,250,000 

Purchased
October 2015

Price
$1,720,000

Profile
80 units; 2 communities

Equity Raise
~$600,000

Opportunity
ROI 30%, annualized return 27%

Update
Sold: July 2017 | Price: $3,250,000 

 

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Why Macon, Georgia?

The South Macon sub-market has seen an explosion of new development and recent job announcements in the manufacturing industry.  The Kumho Tire manufacturing plant opened a new facility in 2016 and hired over 300 production workers making a $424 million investment in the facility. It is also reported that the Boeing Company will invest $81.7 million to convert its existing military facility in Macon to a commercial manufacturing plant, creating approximately 200 new jobs.

As a sub-market of the Atlanta Metro region, Macon has offers many new investment opportunities and attracts a lot of new business in the light manufacturing, logistics and aerospace industries. It is home to Mercer University, an active partner in rebuilding Macon.  They recently completed Mercer Landing, which includes apartments, retail and 95 room Marriott Town Place hotel.  The demand for worker and laborer housing has caused rents to rise about 4.9% in one year.