5-Property Multi-Family Portfolio
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5-Property Multi-Family Portfolio
5 Multifamily Properties Offered at $14,522,000 in Columbus, GA
Investment Highlights
- Columbus, GA is the 2nd Largest City in the State of Georgia by Population
- Value-Add Opportunity to Renovate the Remaining 74 "Classic Units” and Raise Rents to Market Rate
- Effective Economies of Scale as All 5 Properties Are Located Within Close Proximity of Each Other
- Average In-Place Rents are $830/Month With an Opportunity to Increase to $995/Month
- 13 of the 24 Roofs Were Replaced in 2021 With Metal Roofs and 1 Shingle Roof
- Significant Rental Growth as Rents Have Increased By 3.5% Over the Past 12 Months in Columbus, GA
Executive Summary
Sands Investment Group is Pleased to Present This Offering of a 5-Property Multi-Family Portfolio Located in the Heart of Columbus, GA. This Portfolio is Comprised of Cooper Cove Apartments, Fox Run Townhouses, Carolyne Ridge Apartments, Sheffield Drive Apartments And Talbotton Road Apartments. Totaling 180 Units With a Portfolio Unit Mix of 48 Units, 32 Units, 32 Units, 34 Units and 34 Units. Strategically Located Within Minutes Of Each Other Providing Effective Economies of Scale With a Year of Completion Ranging From 2004 - 1962. New Ownership Will Benefit From Over $680,000 In Capital Improvements Over The Last 3 Years Through the Replacement of Newer Roofs, Newer HVACs, Kitchen Remodels, Paint & Flooring Upgrades. Extra Land Available On All 5 Properties, Providing an Opportunity To Upgrade Amenity Package With Playgrounds, Dog Parks, Grills, Picnic Tables, Benches, Cabanas And Fitness Areas.
A Significant Value-Add Opportunity to Renovate the Remaining 74 Classic Units and Raise Rents to Market Rate. New Ownership Can Capitalize on a Significant Loss-to-Lease With Proven In Place Rents Being Filled at Market Rate. 15 Units Are Currently Vacant & Have Received Renovations Primed For Immediate Lease Up. An Implementation Of a R.U.B.S. Program Will Notably Increase the Net Operating Income As Current Ownership Pays Water And Trash Utility.
Columbus, GA Is The 2nd Largest City In Georgia And Home To Columbus State University, Aflac Headquarters, Kia Motors Manufacturing Plant, United States Military Base (Fort Moore) And Many Other Economic Drivers.
In Cooperation With Sands Investment Group Atlanta, LLC - Lic. #67374 BoR: Andrew Ackerman - Lic. GA #311619
A Significant Value-Add Opportunity to Renovate the Remaining 74 Classic Units and Raise Rents to Market Rate. New Ownership Can Capitalize on a Significant Loss-to-Lease With Proven In Place Rents Being Filled at Market Rate. 15 Units Are Currently Vacant & Have Received Renovations Primed For Immediate Lease Up. An Implementation Of a R.U.B.S. Program Will Notably Increase the Net Operating Income As Current Ownership Pays Water And Trash Utility.
Columbus, GA Is The 2nd Largest City In Georgia And Home To Columbus State University, Aflac Headquarters, Kia Motors Manufacturing Plant, United States Military Base (Fort Moore) And Many Other Economic Drivers.
In Cooperation With Sands Investment Group Atlanta, LLC - Lic. #67374 BoR: Andrew Ackerman - Lic. GA #311619
Property Facts
| Price | $14,522,000 | Number of Properties | 5 |
| Price / SF | $91.88 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 158,060 SF |
| Status | Active | Total Land Area | 5.08 AC |
| Price | $14,522,000 |
| Price / SF | $91.88 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 5 |
| Individually For Sale | 0 |
| Total Building Size | 158,060 SF |
| Total Land Area | 5.08 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Columbus Sky Apartments
1410 Talbotton Rd, Columbus, GA 31901 |
Multifamily | 22,130 SF | 1962 | - |
|
Cooper Cove Apartments
4770 Milgen Rd, Columbus, GA 31907 |
Multifamily | 51,912 SF | 1977 | - |
|
Carolyne Ridge Apartments
3625 Arkansas Dr, Columbus, GA 31907 |
Multifamily | 34,944 SF | 2004 | - |
|
Sheffield Garden Apartments
1824-2020 Sheffield Dr, Columbus, GA 31907 |
Multifamily | 13,874 SF | 1970 | - |
| 6425 Flat Rock Rd, Columbus, GA 31907 | Multifamily | 35,200 SF | 2000 | - |
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5-Property Multi-Family Portfolio
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