PROPERTY DESCRIPTION
The 160-unit Winnstead Apartment community was constructed in 1989 and is located on 20 acres at 3110 Mt. Zion Road in Stockbridge, GA.  The property has a clubhouse/leasing office and 17 two-story buildings.  The amenity package includes indoor racquetball court, outdoor pool, fitness center, sauna, laundry facility, lighted tennis court, playground, and car wash.  There are one-, two- and three-bedroom units with an average size of 995 square feet plus a porch or balcony. All apartments have heat, a refrigerator, dishwasher, garbage disposal and full size washer and dryer connections.

The property has very low density and great curb appeal.

LOCATION
The City of Stockbridge is located eight miles south of Atlanta in Clayton County on the border with Henry County. The neighborhood surrounding Winnstead is both residential and commercial.  Mt. Zion Road offers access to several new retail centers, restaurants and banks.  The location offers easy access to Interstate highways 75, 675 and 285.  Downtown Atlanta is a 20 minute commute.

GOALS
It is the Partnership’s goal, over the holding period, to increase the net operating income of the property by offering the tenants an attractive environment in which to live.  The Partnership believes the property can produce attractive operating cash flow and be sold at a gain.

The General Partner will determine when the property will be sold and will continually evaluate an appropriate sales strategy.  The timing of the sale will depend upon the condition of and prospects for the multi-family real estate market, value of the property, need for property repairs and due date of the loans.  It is anticipated a sale will occur between years five and ten.  

To learn more about Winnstead Apartments, visit their listing on move.com.