Austell 12
For saleUnder contract2885 Center St | 6106 SW Austell Ave, Austell, GA 30106
Property type
Multifamily
Unit / Space count
12
Building size
11,700 SF
Year built
2000
Lot size
1.02 acres
Property description
Franklin Street is pleased to present The Austell 12, a 12-unit multifamily community located in Austell, positioned within the rapidly growing western suburbs of the Atlanta metropolitan area. The property offers investors the opportunity to acquire a boutique multifamily asset in a supply-constrained submarket benefiting from strong regional connectivity, expanding employment drivers, and continued population growth throughout Cobb County. The Austell 12 is strategically located near major transportation corridors including Interstate 20 and Thornton Road, providing residents with convenient access to major employment hubs across Metro Atlanta, including Downtown Atlanta, Cumberland/Galleria, and the Six Flags/Austell industrial corridor. The surrounding area continues to experience strong economic activity driven by logistics, healthcare, retail, and distribution employment, with nearby employers including WellStar Cobb Hospital, Amazon distribution facilities, and numerous industrial users throughout the West Atlanta corridor. The property also benefits from proximity to a variety of daily-needs retail destinations, restaurants, and entertainment amenities, enhancing overall resident convenience and long-term tenant demand. Operationally, the asset presents investors with the opportunity to further enhance interior finishes and improve operational efficiencies through a targeted value-add strategy. Current ownership has maintained the property well, creating a strong foundation for future capital improvements and rental growth potential. Collectively, The Austell 12 offers investors the opportunity to acquire a well-located workforce housing asset positioned within one of Metro Atlanta’s most established and steadily growing suburban corridors. Supported by strong regional connectivity, durable housing demand fundamentals, and continued economic expansion throughout Cobb County and West Atlanta, the property is well-positioned for long-term operational stability and future rent growth
Property highlights
- 1 | Path of Progress | Downtown Austell Revitalization• The City of Austell is actively pursuing a master-planned redevelopment of the Threadmill Complex, a 25-acre, 230,000-square-foot former textile mill, into a mixed-use destination featuring residential, retail, office, and park space, drawing explicit comparisons to Ponce City Market. • New mixed-use development along Jefferson Street adds further momentum to the surrounding corridor. • Incoming ownership acquires a position directly in the path of this progress at a basis that reflects today’s market rather than tomorrow’s.
- 2 | Favorable Market Dynamics | Atlanta Metro Fundamentals• Atlanta is projected to rank second among major U.S. metros for effective rent growth in 2026, with rents forecast to grow 4.1%, reversing two consecutive years of declines. • Atlanta’s multifamily construction pipeline has fallen to a decade low, with permitting activity down roughly 28% from 2024, signaling a sustained slowdown in future supply. • The South Cobb County submarket is explicitly identified as a direct beneficiary of improving vacancy and rent fundamentals as conditions tighten across the metro. • Metro Atlanta is projected to add 19,000 new jobs in 2026, the fourth highest gain among major U.S. metros, providing durable support for renter demand heading into the back half of the year. • Multifamily transactions in the $1M to $10M range are gaining momentum, with relatively low average pricing compared to other primary markets drawing increased investor interest from outside Georgia.
- 3 | Rent Growth & Operational Simplicity• The offering comprises two six-unit buildings in close proximity, all configured as two-bedroom / one-bathroom units, providing a uniform and operationally simple asset for incoming ownership. • In-place rents of $1,130 sit approximately $70 below the current market rate of $1,200 for comparable two-bedroom units in the submarket. • This gap can be closed through normal lease renewals and unit turns with no capital investment required, representing over $10,000 in additional annualized gross income at full market rents.
- 4 | Growing, Stable Renter Base• Austell has grown at roughly 1.2% annually and has seen its population increase nearly 8% since the 2020 census. • Since 2000, the city’s population has grown over 53%, consistently outpacing both state and national averages. • The city’s median household income and near-average cost of living point to a stable, working-class renter demographic, the most reliable occupancy base in the multifamily sector.