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21 Unit Multifamily | Near Albany State Univ. 100 S Jefferson St 21 Unit Apartment Building $1,700,000 ($80,952/Unit) Albany, GA 31701
INVESTMENT HIGHLIGHTS
- 100 S Jefferson St is a 21-unit multi-family investment asset in a consumer-driven corridor three minutes from Albany State University.
- Albany has a diversified economy including companies like Proctor & Gamble, Miller Coors and Mars Chocolate of North America.
- ASSUMABLE LOAN AT 5% Interest amortized over 25 years, fixed rate of interest of 5%. 22 more years remaining. Balance of $988k.
- 100% Occupied units with Studio, twelve 1-bedroom and six 2-bedroom units.
- Surrounded by national retailers and servicers, including Hilton Garden Inn, Days Inn by Wyndham, KFC, Truist, and more.
EXECUTIVE SUMMARY
100 S Jefferson St Apartments is a 21-unit multi-family investment asset in a consumer-driven corridor three minutes away from Albany State University.
Sustained high tenancy allows new investors to capitalize on their investment via rental rate increases.
Jefferson Apartments is 2 blocks north of US Hwy 82 BUS, near multiple bus line outlets, public parks and the Albany Civic Center. On-site amenities at the interior-corridor multi-family asset include a laundry room, off-street parking options, and an expansive courtyard.
Surrounded by national retailers and servicers, including Hilton Garden Inn, Days Inn by Wyndham, KFC, Truist, the USPS and more.
Sustained high tenancy allows new investors to capitalize on their investment via rental rate increases.
Jefferson Apartments is 2 blocks north of US Hwy 82 BUS, near multiple bus line outlets, public parks and the Albany Civic Center. On-site amenities at the interior-corridor multi-family asset include a laundry room, off-street parking options, and an expansive courtyard.
Surrounded by national retailers and servicers, including Hilton Garden Inn, Days Inn by Wyndham, KFC, Truist, the USPS and more.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$168,000
|
$10.62
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,400
|
$0.15
|
| Effective Gross Income |
$165,600
|
$10.47
|
| Taxes |
$10,063
|
$0.64
|
| Operating Expenses |
$26,550
|
$1.68
|
| Total Expenses |
$36,613
|
$2.31
|
| Net Operating Income |
$128,987
|
$8.15
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $168,000 |
| Annual Per SF | $10.62 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.15 |
| Effective Gross Income | |
|---|---|
| Annual | $165,600 |
| Annual Per SF | $10.47 |
| Taxes | |
|---|---|
| Annual | $10,063 |
| Annual Per SF | $0.64 |
| Operating Expenses | |
|---|---|
| Annual | $26,550 |
| Annual Per SF | $1.68 |
| Total Expenses | |
|---|---|
| Annual | $36,613 |
| Annual Per SF | $2.31 |
| Net Operating Income | |
|---|---|
| Annual | $128,987 |
| Annual Per SF | $8.15 |
PROPERTY FACTS
| Price | $1,700,000 | Building Class | B |
| Price Per Unit | $80,952 | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 15,819 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 96% |
| No. Units | 21 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1970/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | C2 - Tax Parcel Information: Parcel: 05301-00006-01A / 100 S Jefferson St and next door Parcel 05301-00006-001 / 338 West Broad Ave, Albany, GA 31701 | ||
| Price | $1,700,000 |
| Price Per Unit | $80,952 |
| Sale Type | Investment |
| Sale Condition | 1031 Exchange |
| No. Units | 21 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.61 AC |
| Building Size | 15,819 SF |
| Average Occupancy | 96% |
| No. Stories | 3 |
| Year Built/Renovated | 1970/2022 |
| Opportunity Zone |
Yes |
| Zoning | C2 - Tax Parcel Information: Parcel: 05301-00006-01A / 100 S Jefferson St and next door Parcel 05301-00006-001 / 338 West Broad Ave, Albany, GA 31701 |
AMENITIES
UNIT AMENITIES
- Balcony
- Garden
SITE AMENITIES
- 24 Hour Access
- Courtyard
- Fenced Lot
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 3 | $675.00 | - |
| 1+1 | 12 | $650.00 | - |
| 2+1.5 | 6 | $750.00 | - |
PROPERTY TAXES
| Parcel Number | 0S301-00006-001 | Total Assessment | $12,400 |
| Land Assessment | $12,400 | Annual Taxes | $10,063 ($0.64/SF) |
| Improvements Assessment | $0 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
0S301-00006-001
Land Assessment
$12,400
Improvements Assessment
$0
Total Assessment
$12,400
Annual Taxes
$10,063 ($0.64/SF)
Tax Year
2024
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21 Unit Multifamily | Near Albany State Univ. | 100 S Jefferson St
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