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Multifamily

Waycross Portfolio

101 Ava St, Waycross, GA 31501

Listing Price: $760,000

Cap Rate
7.66%
Number of Units
14
Occupancy
95.0%
Price/Unit
$54,286

Investment Overview

Marcus & Millichap is pleased to present the Waycross Portfolio, which totals 14 units across two apartment communities in the immediate vicinity of downtown Waycross, Georgia. The properties are in a very desirable residential area and are situated just one mile apart. Current ownership self-manages the properties, and replaced the roofs three years ago. 803 City Blvd (1225 Central Ave) 803 City Boulevard is a six-unit apartment building is located in close proximity to the dense commercial corridor of Waycross, GA. All units at this property are 2 Bedrooms / 1 Bathroom. Several retail stores including TJ Maxx, Walmart, Belk, Staples and Ross and are within two miles of the property. All units are occupied with average rents 12% below market rate. 101 Ava Street 101 Ava Street is an eight-unit apartment building. All units at this property are 1 Bedroom / 1 Bathroom. This property is near several points of interest including the YMCA of Waycross, Walmart Neighborhood Market, and Jerry J’s Country Café. The building currently has one down unit that is getting renovated but has all other units occupied with average rents at $521. The Waycross Portfolio gives an investor an opportunity for a light value-add by increasing rents to market rate and sub-metering the water or implementing a flat $25 per month water fee.

Investment Highlights

  • A Portion of the Units are Rented 12% Under Market Rate
  • Both Properties are Located 1.5 miles From Commercial Corridor
  • Opportunity to Sub-Meter the Water or Implement Flat $25 Per Month Water Fee

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Listing Price: $760,000

Cap Rate
7.66%
Number of Units
14
Occupancy
95.0%
Price/Unit
$54,286

Investment Highlights

  • A Portion of the Units are Rented 12% Under Market Rate
  • Both Properties are Located 1.5 miles From Commercial Corridor
  • Opportunity to Sub-Meter the Water or Implement Flat $25 Per Month Water Fee

Investment Overview

Marcus & Millichap is pleased to present the Waycross Portfolio, which totals 14 units across two apartment communities in the immediate vicinity of downtown Waycross, Georgia. The properties are in a very desirable residential area and are situated just one mile apart. Current ownership self-manages the properties, and replaced the roofs three years ago. 803 City Blvd (1225 Central Ave) 803 City Boulevard is a six-unit apartment building is located in close proximity to the dense commercial corridor of Waycross, GA. All units at this property are 2 Bedrooms / 1 Bathroom. Several retail stores including TJ Maxx, Walmart, Belk, Staples and Ross and are within two miles of the property. All units are occupied with average rents 12% below market rate. 101 Ava Street 101 Ava Street is an eight-unit apartment building. All units at this property are 1 Bedroom / 1 Bathroom. This property is near several points of interest including the YMCA of Waycross, Walmart Neighborhood Market, and Jerry J’s Country Café. The building currently has one down unit that is getting renovated but has all other units occupied with average rents at $521. The Waycross Portfolio gives an investor an opportunity for a light value-add by increasing rents to market rate and sub-metering the water or implementing a flat $25 per month water fee.

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

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