Courlley Court II 218 W Hill Ave 40 Unit Apartment Building $2,680,000 ($67,000/Unit) 9.40% Cap Rate Valdosta, GA 31601

Courlley Court II is a rare opportunity to invest in a turnkey, stabilized, and proven multifamily asset located in downtown Valdosta, Georgia. Offered at $2,680,000 (approximately $67,000 per unit). The property consists of 40 total units, including 38 residential apartments and two on-site offices. The residential unit mix includes 36 efficient one-bedroom/one-bath units and 2 two-bedroom/one-bath units, along with a manager’s office and additional office space. Originally constructed as a motel, the property was completely gutted and converted to apartment use in 2022. All residential units were fully rebuilt and feature durable finishes and efficient layouts with kitchenettes, updated cabinetry, flooring, fixtures, and lighting. Kitchenettes include mini-refrigerators, two-burner electric cooktops, and microhood vent systems. Courlley Court II operates under the Housing Choice Voucher (formerly known as Section 8) federally-funded housing program, providing reliable, government-backed rental payments and consistent demand. Pro forma rents average ±$875 per residential unit, equating to ±$35,000 in monthly income ($420,000 annually). Using a conservative 40% operating expense ratio, the property supports a ±9.4% pro forma cap rate at the asking price. All residential units are individually metered for electricity and directly billed to tenants by Georgia Power, reducing landlord utility exposure. Ownership provides hot water, property-wide Wi-Fi, and dumpster service. Additional amenities include an on-site tenant laundry room. Major capital improvements include a new Duro-Last commercial roof installed in 2025, complete with a 20-year transferable warranty, significantly reducing near-term capital expenditure risk.