x
Address
1805 Marion Street Valdosta, GA
Price
$ 249,500
Property Attributes
  • MLS#117753
  • TypeMulti-Family
  • CountyLOWNDES
  • CityValdosta
  • Area3-S of Park Ave to E Oak St to S Hill Ave
  • NeighborhoodMarion
  • Zip31602
  • StyleMulti Unit
  • Year Built1977
  • Taxes1752
  • Price$ 249,500
  • Bedrooms3
  • Full Bathrooms3
  • Half Bathrooms0
  • Sqr Footage2912
  • Lot Size0.36 Acres
Listing Provided Courtesy Of:
FIRST COMMERCIAL REAL ESTATE
Property Description

100% leased up apartment complex with six 1BR/1BA units located in the center of Valdosta. Several long-term tenants in place for multiple years with below market rents - Landlord and PM gave notice to raise rents to closer to market rates in 60 days. Combination of efficient 1BR/1BA floorplan in close proximity to schools, jobs, entertainment, VSU, SGMC, etc keep units in this complex in high demand. Well-maintained over time with no deferred maintenance help with low maintenance / repair costs for investors looking for a rare opportunity at affordable entry level price point for multi-family investing. Lots of upside potential here to raise rents over time --- Proforma Cap Rate of 7.4% using $395/mo rents and 35% operating expense factor. Proforma Cap Rate of 8.44% using market rate rents of $450 for 1BR/1BA.

Price History
5/7/2019 Listed $249,500

General Features

Construction Frame, Wood Siding
Foreclosure Not Applicable
Total Sq Ft 2912

Interior Features

Appliances Electric Stove, Refrigerator
Cooling Central Electric
Floors Carpet, Tile
Heating Central Electric
Interior Features Other-See Remarks

Exterior Features

Acreage 0.3600
Exterior Features None
Frontage None

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 31602

Price
AVG $850K
$250K
Taxes
AVG $5,401
$1,752
Visits
AVG 4
1
Year Built
AVG 1997
1977
Walkscore
AVG 38
68
Data Provided by Walkscore ® not using MLS data

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