Sweetwater Terraces

3555 Sweetwater Road Duluth, GA 30096
Status: Escrow
Year Built: 2007
Price: CONTACT AGENT
# of Units: 165
# of Buildings: 1
# of Stories: 4
Rentable SF: 134,550
Lot Size: 4.60 Acres
Density: 35.87 Units/Acres

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Highlights:

  • 2007 Constructed Mid-Rise 55+ Mixed Income Senior Community
  • Excellent AMI Growth In Gwinnett County with an 11.75% Increase Since 2013
  • Community Amenities Include Controlled Gated Access and Secured Entry to Building, Library and Business Center, Beauty Salon, Chapel, Communal Kitchen, Billiards Room, Audio and Video Theater, and More
  • Property is Qualified Contract Eligible
  • In Place Market Rents are $175-$645 Above Restricted Affordable Rents
  • Unit Amenities Include Full Size Washer and Dryer Connections, Large Walk in Closets, and Private Patios or Balconies in all Homes

Description:

Sweetwater Terraces is a 165-unit mixed income housing community for seniors 55 and older located in Duluth, GA. Residents enjoy access to major shopping areas, dining, health care facilities, and convenient accessibility to Interstate 85 that connects to downtown Atlanta, GA, only 24 miles away from Duluth.

The property was built in 2007 and placed in service in 2008 under the Section 42 Low Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires 149 units to be rented to income qualifying residents earning no more than 60% of Area Medium Income (AMI) limits, which are provided by the Georgia Housing and Finance Authority (GHFA). The remaining 16 units are unrestricted. The property is still within its initial tax credit compliance period.

Residents benefit from an array of community amenities that include, controlled gated access and secured entry access to each building surrounded by beautiful landscaping and a public courtyard area. The property also offers both public and private dining options, a conference center, communal kitchen, fitness center, complimentary laundry facilities, chapel and meditation room, activities room, billiards room, library and business center, beauty salon, community store, theater, private BBQ grill areas, juice bar, pet walking area, community garden, koi pond, and wellness center with classes.

Sweetwater Terraces offers studio, one, two, and three bedroom floorplans that come standard with large walk-in closets, washer/dryer connections, emergency call system, private patio/balcony, designer style kitchens with full energy star rated appliances, refrigerators with ice makers, electric appliances, ceiling fans, and designer finishes such as French doors and brushed nickel hardware finishes.

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