1520 Gordon Hwy - Apartments FOR SALE


Augusta, GA 30906- Richmond Hill
$5,800,000 USD
864-436-1224
1520 Gordon Hwy, Augusta, GA for Sale
$5,800,000 USD
Apartments - FOR SALE
1/11
null | 7.1% Cap Rate

1520 Gordon Hwy
Augusta, GA 30906
Richmond Hill


HIGHLIGHTS

  • Less than 10 minutes from downtown Augusta and ±15 minutes from Fort Gordon, placing it in close proximity to the region’s primary employers
  • Current ownership has completed a full redevelopment, with ±$3.5 million invested into transforming the asset
  • With current occupancy at 85% and roughly $165 in monthly rental upside per unit

OVERVIEW

Colliers is pleased to present Pace Corners, a 76-unit value-add opportunity located in Augusta, GA. The asset consists soley of studio apartments and is strategically positioned between Augusta’s major employers. Following a comprehensive renovation in Q1 2025, this asset offers investors the opportunity to acquire a repositioned asset with a clear path to stabilization.Pace Corners is located in Georgia’s second-largest metro area,home to over half a million residents and supported by a diverse employment base across the healthcare, military, and cybersecurity sectors. The property is less than 10 minutes from downtown Augusta and ±15 minutes from Fort Gordon, placing it in close proximity to theregion’s primary employers and positioning the asset for continued strong rental demand.Current ownership has completed a full redevelopment, with ±$3.5 million invested into transforming the asset. Unit interiors were fullyrebuilt with new kitchens, new appliances, contemporary finishes, new plumbing, and new electrical systems. Exterior improvementsaddressed all major capital components, including roofing, HVAC, andoverall site improvements. With current occupancy at 85% and roughly $165 in monthly rental upside per unit, investors have the opportunity to focus solely on operational execution to unlock significant NOI growth.Pace Corners offers a straightforward path to stabilization, giving investors the ability to step into a fully renovated asset and focus on execution from day one.

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$153 USD /SF

# OF UNITS

76

PRICE/UNIT

$76,316

CAP RATE

7.1%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pace Corners Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.9 AC

LAND SF

126,304 SF

ZONING

B-2

APN/PARCEL ID

0871120010

ASK ABOUT THIS PROPERTY

Ben WetenhallColliersMore Info
864-436-1224

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Ben WetenhallColliersMore Info
864-436-1224

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