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Pine Ridge Apartments 333 S Mock Rd

232 Unit Apartment Building For Sale 7.80% Cap Rate Albany, GA 31705

INVESTMENT HIGHLIGHTS

  • $3mm+ in Capital Expenditures Recently Invested in the Property
  • Large Floor Plans with Room to Further Increase Rents on Renewals
  • 90% of Units Fully Renovated
  • 95% Occupied with Strong In-Place Operations
  • Attractive Assumable Loan

EXECUTIVE SUMMARY

Pine Ridge Apartments is a 232 unit multifamily apartment complex that has seen significant capital improvements to both the interior and exterior components of the property, with room to further increase rents on renewals and as leases turn over. Interior cosmetic upgrades include new LVP flooring, new cabinets & countertops, black appliances, new fixtures, new electrical and plumbing, and painting.
Albany, GA is a dynamic and growing market with a favorable business climate and strong economic fundamentals. The city’s strategic location and access to major highways make it an ideal hub for business and industry. With continued investment and job growth, Albany offers significant opportunities for real estate investment and development.
Boasting 95% occupancy and large floor plans, Pine Ridge Apartments is a compelling investment opportunity with an opportunity to assume the existing loan. The recent capital improvements, combined with strong rental growth potential and strategic location near key employment centers, position this property for continued success.

DATA ROOM Click Here to Access

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

ANNUAL ANNUAL PER SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses $99,999 $9.99
Total Expenses $99,999 $9.99
Net Operating Income $99,999 $9.99

FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual $99,999
Annual Per SF $9.99
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual $99,999
Annual Per SF $9.99

PROPERTY FACTS

Sale Type Investment
Cap Rate 7.80%
No. Units 232
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Building Class B
Lot Size 18.05 AC
Building Size 246,720 SF
Average Occupancy 90%
No. Stories 2
Year Built/Renovated 1979/2024
Parking Ratio 1.93/1,000 SF

UNIT AMENITIES

  • Air Conditioning
  • Balcony
  • Cable Ready
  • Dishwasher
  • Disposal
  • Storage Space
  • Washer/Dryer Hookup
  • Heating
  • Ceiling Fans
  • Kitchen
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Carpet
  • Dining Room
  • Vinyl Flooring
  • Window Coverings

SITE AMENITIES

  • Clubhouse
  • Fitness Center
  • Laundry Facilities
  • Pool
  • Property Manager on Site
  • Tennis Court
  • Package Service
  • Renters Insurance Program
  • Storage Space
  • Maintenance on site

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 80 - 688 - 804
2+1 80 - 1,044
3+2 72 - 1,236

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 00155-00001-08A
  • 00155-00001-08B
Land Assessment
$78,560 (2024)
Improvements Assessment
$3,164,040 (2024)
Total Assessment
$3,242,600 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025

ZONING

Zoning Code R6
R6
  • Listing ID: 32323260

  • Date on Market: 7/2/2024

  • Last Updated:

  • Address: 333 S Mock Rd, Albany, GA 31705

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