Royal Manor

3900 MEMORIAL DRIVE, 30032
INVESTMENT RATIONALE

Brick Asset with Spacious Units
Royal Manor features durable brick exteriors. The property has a marketable, balanced unit mix of 50% one-bedroom units and 50% two-bedroom units. The asset offers the largest one- and two-bedroom floorplans of its competitive set.

Walk to Retail and Schools
Residents of Royal Manor are just half a mile from a 137,000 SF Walmart and less than a mile from Kroger-anchored Belvedere Plaza. They can easily walk to Midway Elementary School and the DeKalb High School for the Arts. The property also is convenient to several private schools.

Minutes from Major Employment Centers
Royal Manor is located a mile from a large complex of DeKalb County government buildings (tax assessor, roads management, recorder’s court, traffic court, juvenile court, sheriff’s department, sanitation management, etc.) which together comprise a major employment hub. The asset is two miles from the primary campus of Georgia Perimeter College, a major employer with 27,000 students on five campuses.

Excellent Accessibility Wedged Between Two Interchanges
Royal Manor is located less than one and a half miles west of I-285 with instant access provided to the interstate via two interchanges, Memorial Drive and Covington Highway. The asset faces highly-traveled Memorial Drive near its junction with Covington Highway (16,710 cars per day). Due to its unique position on a major artery between two interchanges, Royal Manor enjoys a substantial amount of drive-by traffic. The property’s highly accessible, “close-in” location provides residents with convenient access and short commute times throughout the entire metropolitan area.

Upside Potential Through Renovation
A new owner could raise rents at Royal Manor with a capital infusion to renovate the property. The asset’s exterior appearance could be improved by replacing dated wood balconies, repairing the parking lot, and painting the exterior. Suggested interior updates include new carpet and wood-look vinyl, new appliances, new cabinets and countertops, and brushed nickel lighting fixtures and hardware. Nearby upgraded properties receive rental premiums of as much as $100 above Royal Manor’s current rents.

Near Two MARTA Stations, with Improved Pedestrian Access Coming Soon
In addition to being on multiple MARTA bus lines, the asset benefits from proximity to two MARTA rail transit stations, Kensington and Indian Creek. Access to public transit is a major draw for area residents. The DOT is currently constructing more than $10 million in roadway improvements to Memorial Drive and Covington Highway. For instance, pedestrian access to rail will be aided by sidewalks currently being installed along Covington Highway from one half mile south of the Redan Road / Covington Highway intersection to Kensington Station to the north.

PROXIMATE TO DECATUR’S PROLIFIC ECONOMIC DRIVERS
Royal Manor is less than three miles south of DeKalb Medical Center in Decatur, a 500-bed, acute care hospital that services 27,000 inpatients and more than 270,000 emergency and outpatients each year.
The subject is approximately four miles southeast of DeKalb County’s top employer, Emory University and Hospital. The Emory conglomerate is comprised of Emory University (12,700 employed) and Emory Healthcare (11,800 employed) which staffs Emory University Hospital and several other Emory-branded medical centers in the metro area.
Located along Clifton Road just five miles northwest of Royal Manor, the Center for Disease Control and Prevention (CDC) supplies 5,500 jobs. Recently expanded with a one billion dollar project, the CDC opened six new buildings, including a 400,000 SF high-containment laboratory, a 12-story/360,000 SF Headquarters and Emergency Operations Center, and a 200,000 SF Global Communications and Training Center.
North DeKalb Mall, located 3.5 miles north of Royal Manor at the juncture of North Druid Hills Road, U.S. 29, and U.S. 78, is a 635,000 SF center anchored by Macy’s, Burlington Coat Factory, Ross Dress for Less, Marshall’s, and a 16-screen AMC cineplex.

Near Desirable Avondale Estates
Royal Manor’s parcel adjoins (but is not within) the City of Avondale Estates, founded in 1924, which is one of DeKalb’s oldest and most desirable residential neighborhoods. Its charming commercial area, which is a protected historic district, features half-timbered buildings. Old houses of great architectural character are set amid beautiful landscaping and enormous hardwood trees. The presence of this city is a gentrifying influence on nearby neighborhoods.

Amenities

Community Amenities
- Separate Structure with Leasing Office
- Laundry Facility
- Swimming Pool
- Playground
- On Bus Lines
- Walk to Walmart Supercenter
 
Unit Features
- Fully-equipped Kitchen
- Frost-free Refrigerator
- Gas Range/Stove
- Separate Dining Area (2BRs)
- Patio/Balcony
- Closets
- Faux Wood Vinyl Flooring
- Ceramic Tile Tub Surround
- Window Blinds
 

Map

Community Specialists

Norma Aguirre
(954) 663 3754
Email Me