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Multifamily

LeMans Apartments

415 Northside Dr, Valdosta, GA 31602

Listing Price: Request For Offer

Number of Units
56
Gross SF
40,200

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Lemans Apartments. Lemans Apartments is located in Valdosta, GA and is within a fifteen-minute drive-time radius of all major employers within the Valdosta MSA. Lemans Apartments offers the opportunity for a new buyer to increase the NOI by 51.38% by renovating unit interiors, installing a laundry facility in what is now the office, and thus by increasing rental rates at the property. Currently, Lemans Apartments has average effective in-place rents 44% to 67% below the average of all market comparables.

Investment Highlights

  • Ability to Increase NOI by 51.38% Within the First 24-Months of Ownership
  • Value Add Opportunity Through Physical and Operational Upside Unlocked by Renovating Unit Interiors and Installing a Laundry Facility
  • Located Directly off Northside Drive, Providing Residents Easy Access to Shopping and Retail Destinations, Moody Air Force Base, Valdosta State University and South Georgia Medical Center

Exclusively Listed By

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Listing Price: Request For Offer

Number of Units
56
Gross SF
40,200

Investment Highlights

  • Ability to Increase NOI by 51.38% Within the First 24-Months of Ownership
  • Value Add Opportunity Through Physical and Operational Upside Unlocked by Renovating Unit Interiors and Installing a Laundry Facility
  • Located Directly off Northside Drive, Providing Residents Easy Access to Shopping and Retail Destinations, Moody Air Force Base, Valdosta State University and South Georgia Medical Center

Investment Overview

SP Multifamily Group of Marcus & Millichap is pleased to present qualified investors with the opportunity to acquire Lemans Apartments. Lemans Apartments is located in Valdosta, GA and is within a fifteen-minute drive-time radius of all major employers within the Valdosta MSA. Lemans Apartments offers the opportunity for a new buyer to increase the NOI by 51.38% by renovating unit interiors, installing a laundry facility in what is now the office, and thus by increasing rental rates at the property. Currently, Lemans Apartments has average effective in-place rents 44% to 67% below the average of all market comparables.

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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