Matthews Real Estate Investment Services is proud to offer this 9-unit apartment community located at 635 Orange Street in Macon, Georgia. This is an opportunity to purchase a stable apartment community, currently 100% occupied, located near downtown Macon and The Medical Center. This offers an excellent opportunity for an investor to purchase a property with 24% rental upside conservatively to bring the stabilized cap rate up to 8.49%, with an in-place cap rate at 6.7%
This community benefits tremendously from its location as most of the tenants are nurses that work at the nearby hospital. Atrium Health Navicent has been actively expanding its facilities and services. Notably, in February 2022, they opened the Beverly Knight Olson Children’s Hospital, a dedicated pediatric facility design to meet the growing demand for pediatric services in the region. Additionally, the Macon Volunteer Clinic, situated approximately 4.4 miles from 635 Orange Street, is set to open a new facility in March of 2025. This facility will offer comprehensive healthcare services, including dental care, primary healthcare, eye care, and mental health counseling. The rapid growth of the area’s medical industry poises nearby rental properties for success as they leverage an inflight of supporting staff members relocating to the area.
Broker of Record - Bill Pedersen
License No. 80041 (GA)
(866) 889-0550