149 West Thigpen Avenue - Apartments FOR SALE


Lakeland, GA 31635
$1,195,000 USD
229-244-3535
149 West Thigpen Avenue, Lakeland, GA for Sale
$1,195,000 USD
Apartments - FOR SALE
1/46
null | 8.63% Cap Rate

149 West Thigpen Avenue
Lakeland, GA 31635


HIGHLIGHTS

  • Luxury vinyl plank flooring
  • Modern kitchenettes with stainless-look appliances
  • New plumbing and electrical systems
  • New roof and parking lot
  • On-site laundry, manager’s office, and professional camera security system.

OVERVIEW

Willow Grove | Fully Renovated 16-Unit Investment Property – Lakeland, GA Exceptional turnkey multifamily investment opportunity! Willow Grove has been completely renovated in 2024 and repositioned from a former motel into 16 high-efficiency 1BR/1BA units with premium finishes. Each unit features luxury vinyl plank flooring, modern kitchenettes with stainless-look appliances, new plumbing and wiring, and a new roof and parking lot. Property includes on-site laundry, a small manager’s office, and professional camera security system. All units are separately metered for power; owner provides water, Wi-Fi, and dumpster service. Current rents range between $750–$875/month with a potential gross income of ±$14,000/month. Multi-year leases through a state-funded agency ensure dependable occupancy and income stability. Trailing 12-month cap rate: ±8.6%. Ideal for investors seeking low-maintenance, cash-flowing assets in a growing South Georgia market.

FOR SALE DETAILS

PRICE

$1,195,000 USD

PRICE/SF

$279 USD /SF

# OF UNITS

16

PRICE/UNIT

$74,688

CAP RATE

8.63%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,363 SF

ZONING

R-3

APN/PARCEL ID

L01-0038

ASK ABOUT THIS PROPERTY

John CoursonColdwell Banker Commercial Premier Real EstateMore Info
229-244-3535

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John CoursonColdwell Banker Commercial Premier Real EstateMore Info
229-244-3535

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