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The Parks At Lanier 210 Lanier Dr 93 Unit Apartment Building For Sale Statesboro, GA 30458
INVESTMENT HIGHLIGHTS
- Attractive Loan Assumption
- Proximity to employers: located directly between 2 of the 4 largest employers in Statesboro.
- 100% Renovated interiors and new roofs.
EXECUTIVE SUMMARY
Parks At Lanier is a value-add investment opportunity located in Statesboro, Georgia. The property is offered with attractive assumable financing and has had 100% of the units renovated in the last 2-3 years.
OFFERING HIGHLIGHTS:
• Exceptional loan that can be assumed.
• 100% Renovated interiors and new roofs.
• $2M+ in recent renovations.
UPSIDE:
• Stabilize staffing and occupancy.
• Upgrade the mail center.
• Make minor improvements to exterior aesthetics.
• Convert 4BD units to 3BD units with W/D machines.
• Potential to add W/D machines to 2BD units.
• Be at the center of all of the recently started economic growth.
AREA HIGHLIGHTS:
• Georgia Southern University located directly across the street.
• Proximity to employers: located directly between 2 of the 4 largest employers in Statesboro.
• 1/4 mile from new South Campus expansion (208 acres) that broke ground in 2024.
• 3/4 mile from a new (2024-2025) Entertainment / Mixed-Use District.
• Hyundai's new $7.5B factory opened at the end of 2024 just 25 minutes away.
• New Hyundai suppliers are constructing $2B of developments (many anchored in Statesboro / Bulloch County) to support Hyundai.
Offering Materials: https://www.eastgatemultifamily.com/pal-listing-page
Overview Video: https://youtu.be/cwW26SstzBU
Chris Yeagle, EastGate Multifamily
Mobile: 843-860-6908
www.eastgatemultifamily.com
Licenses: FL: 3010970, GA: 220941, SC: 68049, NC: 299692
OFFERING HIGHLIGHTS:
• Exceptional loan that can be assumed.
• 100% Renovated interiors and new roofs.
• $2M+ in recent renovations.
UPSIDE:
• Stabilize staffing and occupancy.
• Upgrade the mail center.
• Make minor improvements to exterior aesthetics.
• Convert 4BD units to 3BD units with W/D machines.
• Potential to add W/D machines to 2BD units.
• Be at the center of all of the recently started economic growth.
AREA HIGHLIGHTS:
• Georgia Southern University located directly across the street.
• Proximity to employers: located directly between 2 of the 4 largest employers in Statesboro.
• 1/4 mile from new South Campus expansion (208 acres) that broke ground in 2024.
• 3/4 mile from a new (2024-2025) Entertainment / Mixed-Use District.
• Hyundai's new $7.5B factory opened at the end of 2024 just 25 minutes away.
• New Hyundai suppliers are constructing $2B of developments (many anchored in Statesboro / Bulloch County) to support Hyundai.
Offering Materials: https://www.eastgatemultifamily.com/pal-listing-page
Overview Video: https://youtu.be/cwW26SstzBU
Chris Yeagle, EastGate Multifamily
Mobile: 843-860-6908
www.eastgatemultifamily.com
Licenses: FL: 3010970, GA: 220941, SC: 68049, NC: 299692
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS Under Contract
| Sale Type | Investment | Building Size | 57,816 SF |
| No. Units | 93 | Average Occupancy | 98% |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built/Renovated | 1988/2004 |
| Apartment Style | Garden | Parking Ratio | 2.59/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Lot Size | 4.48 AC | ||
| Zoning | R4 | ||
| Sale Type | Investment |
| No. Units | 93 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 4.48 AC |
| Building Size | 57,816 SF |
| Average Occupancy | 98% |
| No. Stories | 1 |
| Year Built/Renovated | 1988/2004 |
| Parking Ratio | 2.59/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Heating
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wi-Fi
- Freezer
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Grill
- Online Services
- Public Transportation
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | $729.00 | 312 |
| 1+1 | 32 | $834.00 | 380 |
| 2+1 | 29 | $1,150 | 588 |
| 3+2 | 11 | $1,515 | 888 |
| 4+2 | 14 | $1,415 | 888 |
| 2+2 | 2 | $1,259 | 660 |
PROPERTY TAXES
| Parcel Number | MS63000008-000 | Improvements Assessment | $1,522,588 |
| Land Assessment | $164,920 | Total Assessment | $1,687,508 |
PROPERTY TAXES
Parcel Number
MS63000008-000
Land Assessment
$164,920
Improvements Assessment
$1,522,588
Total Assessment
$1,687,508
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The Parks At Lanier | 210 Lanier Dr
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