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4690 Log Cabin Drive, Macon, GA, 31204

The Park At 4690
$7,800,000

Key Information

Cap Rate
7.86%
$ per SF
$93
Tot. SF
78,755
Lot Size
8.84 Acres
Units
100
Year Built
1973
Type
Apartments
NOI
$628,840

Highlights

  • 100 Units, Built in 1973
  • Unit mix comprised of one- and two-bedroom floor plans, including (34) 660 SF one-bedroom flats, (34) 710 SF 1 bed loft, and (32) 1,015 SF two-bedroom flat units.
  • Gross Building Square Footage: ±79,060 SF
  • Average Unit Size: ±791 SF
  • Approximately 73% of units are renovated, with the remaining 27% units in classical condition offering clear value-add potential.
  • Current Occupancy: 99%
  • Current Average Rent: $820 | Market Average Rent: $870
  • Situated on ±8.84 acres with a density of approximately 11.3 units per acre
  • Low-rise, garden-style multifamily community
  • No Section 8 tenants
  • On-Site Laundry Facility in Building 507 and operated by CSC. W/D Connections available in the 2-bedroom units only. No Appliances provided.
  • Roofs: Flat TPO approximately 15 years old (30-year lifespan). Significant Roof maintenance has been completed in the past 3 years.
  • No Central HVAC, individual forced-air system with a closet-mounted electrical furnace/blower and an exterior pad-mounted condensing unit.
  • Each Unit has its own individual Electric water heater (30-40 gallons). Water heaters were replaced as part of the capital improvements since October 2022.
  • No Gas. All Electric. Individually Metered. Tenants pay direct to Georgia Power.
  • Copper wiring
  • Plumbing is a mix of PVC, Cast Iron, and Copper. No Polybutylene.

Utilities

  • Water/Sewer: $30/month (RUBS, flat rate) — Master Metered.
  • Trash: $10/month (flat fee)
  • Pest Control: $5/month (flat fee)
  • Electricity (heat, A/C, water heating): Billed direct to tenants by Georgia Power — Individually Metered.
  • Cable/Internet (Cox): Revenue share arrangement — not charged to 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