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St. Phillip Villas 829 N Hill St 60 Unit Apartment Building $7,835,000 ($130,583/Unit) 8.29% Cap Rate Griffin, GA 30223
Investment Highlights
- 60-unit garden-style community with 95% occupancy and large avg unit size of ±1,176 SF
- 23 units fully upgraded; 11 units partially upgraded with LVP flooring and new appliances
- No Affordable Housing restrictions; water/sewer bill-back system in place
- Mark-to-market upside: current avg rent $1,228 vs. market rent of $1,338 per unit
- Brand new Pickleball Court, Gazebo, Fire Pit, Outdoor Grilling area & Playground
- ±40 miles south of Atlanta with access to major employment, healthcare, and education nodes
Executive Summary
Broker Of Record
Maxx Bauman
Matthews Real Estate Investment Services, Inc
451849, 80041 (GA)
3060 Peachtree Rd NW, Ste 1450, Atlanta, GA 30305 (866) 889-0550
Maxx Bauman
Matthews Real Estate Investment Services, Inc
451849, 80041 (GA)
3060 Peachtree Rd NW, Ste 1450, Atlanta, GA 30305 (866) 889-0550
Property Facts
| Price | $7,835,000 | Building Class | B |
| Price Per Unit | $130,583 | Lot Size | 5.98 AC |
| Sale Type | Investment | Building Size | 70,575 SF |
| Cap Rate | 8.29% | Average Occupancy | 93% |
| Gross Rent Multiplier | 8.1 | No. Stories | 2 |
| No. Units | 60 | Year Built | 2001 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | HDR-B | ||
| Price | $7,835,000 |
| Price Per Unit | $130,583 |
| Sale Type | Investment |
| Cap Rate | 8.29% |
| Gross Rent Multiplier | 8.1 |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 5.98 AC |
| Building Size | 70,575 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 2001 |
| Opportunity Zone |
Yes |
| Zoning | HDR-B |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 002-18-010 | Improvements Assessment | $1,981,065 |
| Land Assessment | $124,416 | Total Assessment | $2,105,481 |
Property Taxes
Parcel Number
002-18-010
Land Assessment
$124,416
Improvements Assessment
$1,981,065
Total Assessment
$2,105,481
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