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1503 E Park Ave
Valdosta, GA 31602
Prosper Azalea City · Multifamily Property For Sale · 300 Units
PROPERTY FACTS
| No. Units | 300 | Lot Size | 23.53 AC |
| Property Type | Multifamily | Building Size | 263,184 SF |
| Property Subtype | Apartment | Average Occupancy | 90% |
| Apartment Style | Garden | No. Stories | 2 |
| Building Class | B | Year Built/Renovated | 1978/2017 |
| No. Units | 300 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 23.53 AC |
| Building Size | 263,184 SF |
| Average Occupancy | 90% |
| No. Stories | 2 |
| Year Built/Renovated | 1978/2017 |
UNIT AMENITIES
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Disposal
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Security System
- Ceiling Fans
- Kitchen
- Refrigerator
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Den
- Dining Room
- Patio
- Vinyl Flooring
SITE AMENITIES
- Business Center
- Clubhouse
- Fitness Center
- Laundry Facilities
- Picnic Area
- Playground
- Property Manager on Site
- Tennis Court
- Energy Star Labeled
- Grill
- Package Service
- Pet Play Area
- Volleyball Court
- Maintenance on site
- Sundeck
ABOUT 1503 E PARK AVE , VALDOSTA, GA 31602
RealINSIGHT Marketplace and Capstone Apartment Partners are pleased to offer the opportunity to acquire Arbor Trace: a 300-unit garden-style apartment community conveniently located in Valdosta, Georgia. Arbor Trace offers a well-positioned asset that has benefitted from a recent capital infusion and mid-stage repositioning effort. Shortly after takeover, the property was 54% occupied with the majority of the units not considered rent ready. Since taking over, current management has successfully improved the property to near stabilization with an improved resident profile, performed “hard turns” on unit interiors, upgraded the amenity package, and cured all immediate deferred maintenance needs. With the repositioning in process and majority of the heavy lifting and many interior renovations complete, incoming investors can immediately pivot the focus on driving NOI growth and enhancing interior features to align rents with the submarket.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 64 | $537.00 | 550 |
| 2+1 | 164 | $593.00 | 900 |
| 2+2 | 53 | $678.00 | 1,050 |
| 3+2 | 19 | $778.00 | 1,230 |
PROPERTY TAXES
| Parcel Number | 0114D-161 | Improvements Assessment | $8,130,440 |
| Land Assessment | $823,550 | Total Assessment | $8,953,990 |
PROPERTY TAXES
ZONING
| Zoning Code | E-R |
| E-R |
