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415 W Cypress St
Ludowici, GA 31316
Cypress Place · Multifamily Property For Sale
·
8 Units
PROPERTY FACTS
| No. Units | 8 | Lot Size | 0.26 AC |
| Property Type | Multifamily | Building Size | 4,240 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1960 |
| Building Class | C | ||
| Zoning | 002 | ||
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 4,240 SF |
| No. Stories | 1 |
| Year Built | 1960 |
| Zoning | 002 |
ABOUT 415 W CYPRESS ST , LUDOWICI, GA 31316
Cypress Place is an 8-unit multifamily property located in one of the fastest growing areas of Georgia. Cypress Place is located approximately 15 miles (20 mins) from the main entrance Gate 1 of Fort Stewart, the largest Army installation east the Mississippi River. Fort Stewart has an economic impact of $5.6 billion and total employment of 31,557 active duty and civilian employees. Ludowici is a suburb of Hinesville, GA and located in Long County, one of the fastest growing counties in Georgia boasting a 32% population growth between 2010 and 2018. Additionally, the high growth market of Savannah, GA, home to the fastest growing container port in the United States, is an easy 45 minutes from Long County. Currently, 50% of the units are achieving market rent. New ownership will benefit from bringing all units up to market levels increasing total returns. The low maintenance concrete block building has benefited from major recent capital improvements including a new 40-year metal roof installed in 2019. New PEX plumbing, new tankless water heaters in all units, new vinyl siding, and new HVAC units in all units were installed in 2017. The property is currently managed by a local third-party management company who would stay in-place offering a truly “turnkey” investment opportunity with cash flow day one.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $550.00 | 500 |
PROPERTY TAXES
| Parcel Number | L020000085 | Improvements Assessment | $29,074 |
| Land Assessment | $21,706 | Total Assessment | $50,780 |
PROPERTY TAXES
