Log In/Sign Up
Your email has been sent.
149 West Thigpen Avenue 16 Unit Apartment Building $1,195,000 ($74,688/Unit) 8.63% Cap Rate Lakeland, GA 31635
Investment Highlights
- Modern kitchenettes with stainless-look appliances
- New roof and parking lot
- New plumbing and electrical systems
- On-site laundry, manager’s office, and professional camera security system.
Executive Summary
Willow Grove | Fully Renovated 16-Unit Investment Property – Lakeland, GA Exceptional turnkey multifamily investment opportunity! Willow Grove has been completely renovated in 2024 and repositioned from a former motel into 16 high-efficiency 1BR/1BA units with premium finishes. Each unit features luxury vinyl plank flooring, modern kitchenettes with stainless-look appliances, new plumbing and wiring, and a new roof and parking lot. Property includes on-site laundry, a small manager’s office, and professional camera security system. All units are separately metered for power; owner provides water, Wi-Fi, and dumpster service. Current rents range between $750–$875/month with a potential gross income of ±$14,000/month. Multi-year leases through a state-funded agency ensure dependable occupancy and income stability. Trailing 12-month cap rate: ±8.6%. Ideal for investors seeking low-maintenance, cash-flowing assets in a growing South Georgia market.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $1,195,000 | Apartment Style | Low-Rise |
| Price Per Unit | $74,688 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 8.63% | Building Size | 5,067 SF |
| Gross Rent Multiplier | 7.11 | No. Stories | 1 |
| No. Units | 16 | Year Built | 2025 |
| Property Type | Multifamily | Parking Ratio | 4.93/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Residential - multi-family approved | ||
| Price | $1,195,000 |
| Price Per Unit | $74,688 |
| Sale Type | Investment |
| Cap Rate | 8.63% |
| Gross Rent Multiplier | 7.11 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 5,067 SF |
| No. Stories | 1 |
| Year Built | 2025 |
| Parking Ratio | 4.93/1,000 SF |
| Zoning | R-3 - Residential - multi-family approved |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Crown Molding
- Kitchen
- Refrigerator
- Range
- Office
- Smoke Free
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Smoke Free
- Community-Wide WiFi
- Fiber Optic Internet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | $812.50 | 228 - 275 |
| 1+1 | 6 | $812.50 | 318 - 385 |
1 1
Property Taxes
| Parcel Number | L01-0038 | Total Assessment | $133,080 (2025) |
| Land Assessment | $10,520 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $122,560 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
L01-0038
Land Assessment
$10,520 (2025)
Improvements Assessment
$122,560 (2025)
Total Assessment
$133,080 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
1 of 47
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
149 West Thigpen Avenue
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.