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Value-Add Multifamily Community | Albany 3 Multifamily Properties Online Auction Sale Albany, GA
Investment Highlights
- Exceptional multifamily investment offering a total of 72 apartment units with 26 units currently rented and producing income.
- Prime location offering seamless highway access and proximity to major employers, educational institutions, and downtown amenities.
- Robust market fundamentals, with a vacancy rate of just 10.8%, a significantly reduced construction pipeline, and consistent rent growth.
- High-impact value-add potential exists through completing renovations and leasing vacant units to generate increased returns.
- Opportunity Zone designation provides considerable capital gains tax incentives for redevelopment and renovation projects.
- Growing 3-mile population of over 29,000, with over 61% renting their homes, that generates more than $200 million in annual consumer spending.
Executive Summary
GREA is pleased to exclusively present the opportunity to acquire Swift Street Apartments, a high-impact value-add multifamily community located at 1008 Blakely Court, 611 Swift Street, and 1105 Swift Street in Albany, Georgia. Comprising a total of 72 units, the property will be delivered with 26 units rented and the remaining units in varying states of renovation, delivering an upside for investors to complete the work on the property and fill the vacant units to capture increased returns.
The property spans 18 buildings across 4.57 acres, totaling 67,749 square feet that was originally built in 1988. It includes a mix of two- and three-bedroom apartments with an average unit size of 856 square feet, ideal for professionals and young families. Tenants enjoy the properties’ ample yard space, convenient on-site parking, and well-connected location.
Swift Street Apartments presents a perfect location for the area’s large commuter population, with seamless highway access and proximity to major job centers. The community is just minutes off Highway 19, allowing convenient travel to destinations like downtown Albany (2.5 miles), Albany State University (3.4 miles), MillerCoors Albany Brewery (4 miles), and Marine Corp Logistics Base Albany (8.1 miles). The location is positioned within a designated Opportunity Zone, offering considerable capital gains tax incentives for qualifying redevelopment and renovation projects, offsetting costs and enhancing the investment’s long-term strength.
Situated in the Albany/Southwest Multifamily Submarket, Swift Street Apartments benefit from strong leasing fundamentals and a robust renter population. The region claims vacancies of just 10.8%, and with no new inventory currently under construction, the area’s stable demand has driven average annual rent growth of 4.8% during the past five years. This outsized interest is drawn from a growing population of more than 29,000 that lives within 3 miles of the property. More than 61% of these locals rent their homes, driving more than $200 million in consumer spending, with over $27 million in spending on household costs. This dependable renter base ensures consistent growth potential for well-located rental properties like Swift Street Apartments.
Discover all the advantages of this incredible opportunity which combines significant value-add growth paths,
The property spans 18 buildings across 4.57 acres, totaling 67,749 square feet that was originally built in 1988. It includes a mix of two- and three-bedroom apartments with an average unit size of 856 square feet, ideal for professionals and young families. Tenants enjoy the properties’ ample yard space, convenient on-site parking, and well-connected location.
Swift Street Apartments presents a perfect location for the area’s large commuter population, with seamless highway access and proximity to major job centers. The community is just minutes off Highway 19, allowing convenient travel to destinations like downtown Albany (2.5 miles), Albany State University (3.4 miles), MillerCoors Albany Brewery (4 miles), and Marine Corp Logistics Base Albany (8.1 miles). The location is positioned within a designated Opportunity Zone, offering considerable capital gains tax incentives for qualifying redevelopment and renovation projects, offsetting costs and enhancing the investment’s long-term strength.
Situated in the Albany/Southwest Multifamily Submarket, Swift Street Apartments benefit from strong leasing fundamentals and a robust renter population. The region claims vacancies of just 10.8%, and with no new inventory currently under construction, the area’s stable demand has driven average annual rent growth of 4.8% during the past five years. This outsized interest is drawn from a growing population of more than 29,000 that lives within 3 miles of the property. More than 61% of these locals rent their homes, driving more than $200 million in consumer spending, with over $27 million in spending on household costs. This dependable renter base ensures consistent growth potential for well-located rental properties like Swift Street Apartments.
Discover all the advantages of this incredible opportunity which combines significant value-add growth paths,
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Property Facts
| Sale Condition | Auction Sale | Number of Properties | 3 |
| Type of Ownership | Fee Simple | Total Building Size | 67,749 SF |
| Sale Type | Investment | Total Land Area | 13.41 AC |
| Status | Active |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Total Building Size | 67,749 SF |
| Total Land Area | 13.41 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built |
|---|---|---|---|
| 1008 Blakely Ct, Albany, GA 31705 | Multifamily | 31,153 SF | 1986 |
| 611 Swift St, Albany, GA 31705 | Multifamily | 23,800 SF | 1991 |
| 1105 Swift St, Albany, GA 31705 | Multifamily | 12,796 SF | 1978 |
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Sale Advisor
Sale Advisor
Jim Jarrell, Executive Managing Director
Jim Jarrell has over 30 years of experience in multifamily sales and asset management throughout the Southeast. As a specialist in multi-family brokerage starting in 1991, he has sold over $1 billion in apartment deals and 20,000 units in Georgia, the Carolinas, Alabama and Tennessee.
Transitioning to Asset Management in 2010, Jim was able to apply his experience from the deal making side of the apartment business to the operations side, creating value for investors in management oversight, value-add renovations, and dispositions. Since rejoining the team at GREA he is focusing again on sales of apartment properties. He is also active in land sales for multifamily and senior housing development.
Prior to joining GREA, Jim has held senior level positions with the RADCO Companies, Trimont Real Estate Advisors, Cushman & Wakefield and Marcus & Millichap.
Jim is a member of the Atlanta Commercial Board of Realtors and is a Phoenix Award recipient for outstanding sales achievement.
Jim earned his Bachelor of Business Administration (BBA) degree majoring in Finance from the University of Georgia as well as a Master of Science in Real Estate (MSRE) from Georgia State University.
Transitioning to Asset Management in 2010, Jim was able to apply his experience from the deal making side of the apartment business to the operations side, creating value for investors in management oversight, value-add renovations, and dispositions. Since rejoining the team at GREA he is focusing again on sales of apartment properties. He is also active in land sales for multifamily and senior housing development.
Prior to joining GREA, Jim has held senior level positions with the RADCO Companies, Trimont Real Estate Advisors, Cushman & Wakefield and Marcus & Millichap.
Jim is a member of the Atlanta Commercial Board of Realtors and is a Phoenix Award recipient for outstanding sales achievement.
Jim earned his Bachelor of Business Administration (BBA) degree majoring in Finance from the University of Georgia as well as a Master of Science in Real Estate (MSRE) from Georgia State University.
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Auction Contact
John Artozqui
Contact
Auctioneer License:
Ten-X Commercial, LLC Jessica Anne Figueroa RE Brkr 75044. Ten-X Commercial, LLC Arlene Richardson Auction Firm AU003185
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Value-Add Multifamily Community | Albany
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Value-Add Multifamily Community | Albany
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