38 Unit Apartment Complex - Columbus, GA ($899,000)

[J Scott]

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DESCRIPTION

• 38 Unit Apartment Complex
• 1, 2 and 3 Bedroom Apartments, Duplexes and Single-Family Houses
• 1 Parcel; Approximately 28,937 Square Feet
• Potential Gross Market Rent: $16,667 (Monthly); $200,004 (Annual)
• Asking: $899,000($23,660 Per Unit)

OVERVIEW

Seller purchased the property in November 2017 with the intent to renovate, stabilize and hold the property long-term for cash flow.After performing a portion of renovations, removing non-paying tenants and starting the stabilization process, sellers have decided to pursue a larger project, and are looking for a new owner to complete the process.

With some additional renovation, management improvements and tenant placement, the property provides tremendous opportunity as a value-add reposition or for long-term cash flow.