120 Unit Class B Apartments Multi-Family FOR SALE


Cordele, GA
$15,575,000 USD
404-876-1640
, Cordele, GA for Sale
$15,575,000 USD
Multi-Family - FOR SALE
1/26
null | 7% Cap Rate

120 Unit Class B Apartments
Cordele, GA


HIGHLIGHTS

  • Located in thriving transportation corridor.
  • Economic gateway to central South Georgia.
  • Below market rents.
  • Less than 2.5% vacancy in market. Typically, 95% to 100% occupied.
  • Acute housing shortage. More jobs than places to live.
  • Valued at $17,750,000 in a recent 495 pages MAI appraisal report issued by one of the top real estate firms in the world.

OVERVIEW

Opportunity to acquire recently renovated, typically fully-occupied, class B apartment communities - 36, 36, and 48 units - totaling 120 units (operated as one property, two are adjacent within a mile of the third) in Cordele, GA situated alongside I-75, the busiest interstate in the country and a thriving transportation corridor. Offered at a 7% cap rate based upon current operations, 9.0% cap rate with market rents. Approximately $1,200,000 has been spent on renovations during the last 18 months. Approximate 109 of the 120 units have been renovated and some currently under renovation or scheduled for renovation. Cordele, located at the nexus of the nation’s busiest Interstate - I-75 and 4 major rail lines - with a direct connection to the U.S.’s fastest growing seaport and second busiest on the East Coast - Savannah, and the ports of Charleston, Jacksonville, Brunswick; is uniquely situated for economic stability and growth.

ASK ABOUT THIS PROPERTY

Stephen SelfBull Realty Inc.More Info
404-876-1640

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Stephen SelfBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.