503-953-0085
509 N Westover Blvd, Albany, GA for Sale
Apartments - FOR SALE
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509 N Westover Blvd
Albany, GA 31707


HIGHLIGHTS

  • Recent Full High-End Renovations and Upgrades to Unit Amenities, Exteriors and Common Areas
  • Economic Growth: Strong Economic Driver Growth Through Agribusiness
  • Strong Local Demographics: $104,000 Avg. HH Income within a 1-Mile Radius
  • Assumable Debt: Attractive Financing Options Available, Enhancing Cash-on- Cash Returns
  • Below Market Rents Avg. $227 Per Unit/Mo Below Market Rent
  • Drone Video: https://www.youtube.com/watch?v=EtLUip5wVYc&t=1s

OVERVIEW

509 N. Apartments is a 252-unit multifamily community in Albany, Georgia, built in 1987 and recently renovated with modern kitchens and bathrooms, new flooring, updated appliances, and refreshed common areas. Rents are currently below market, offering upside through operational improvements and rent growth. The property is stabilized and cash-flowing, providing predictable income today. The surrounding area is strong, with an average household income of $104,000 within 1 mile and a median income of $65,000 within 2 miles, supporting long-term rental demand. With assumable debt in place, 509 N. Apartments is an opportunity for investors seeking to acquire a stabilized, cash-flowing asset with upside potential in a strong demographic location. Drone Video: https://www.youtube.com/watch?v=EtLUip5wVYc&t=1s

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

252

CAP RATE

Request Cap Rate

% LEASED

87%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

509 North Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1987

PARKING SPACES

395

LAND DETAILS

LAND ACRES

29.23 AC

LAND SF

1,273,259 SF

ZONING

R6

APN/PARCEL ID

040-2-00000-018

ASK ABOUT THIS PROPERTY

Harold ShepardMarcus & MillichapMore Info
503-953-0085

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Harold ShepardMarcus & MillichapMore Info
503-953-0085

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