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601 N 16th Avenue & 2303–2305 N Davis Street, Albany, GA, 31701

North Davis Apartments
$1,013,000

Key Information

Cap Rate
7.01%
$ per SF
$38
Tot. SF
26,594
Lot Size
1.97 Acres
Units
37
Type
Apartments
NOI
$71,026

Highlights

  • 37 Units, Built In 1984 & 1988
  • Unit Mix Comprised Of One- And Two-Bedroom Floor Plans, Including (31) 1br/1ba And (6) 2br/1.5ba Layouts.
  • (19) One Bedroom Units Come With A Bonus Loft Upstairs & (12) Normal One Bed Floorplans
  • Gross Building Square Footage Of ±26,594 SF
  • Average Unit: ±719 SF
  • Current Occupancy: 87.5%
  • Current Average Rent: $500 | Market Average Rent: $624+
  • Situated On ±1.97 Acres With A Density Of Approximately 19 Units Per Acre
  • Low-Rise Multifamily Community
  • Individually Metered For Electricity – Tenants Pay Direct
  • Copper Wiring
  • Master Metered For Water/Sewer – Landlord Pays
  • Plumbing Is Pvc In Slab And Copper In Walls
  • Monthly Rent Includes Water/Sewer & Trash
  • (8) Units Have Central Hvac
  • Roofs Are Approximately 20 Years Old
  • (6) Units Have In-Unit Laundry
  • There Is No On-Site Laundry – There Are Two Laundromats Within Two Miles
  • Units Are All Electric, No Gas
  • Each Unit Has An Electric Water Heater
  • (4) Rent Subsidized Tenants

Photos

Location

Agents

Broker of Record

Maxx Bauman

License # 80041, 451849 (GA)
Matthews Real Estate Investment Services, Inc
3060 Peachtree Rd NW, Ste 1450, Atlanta, GA 30305