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203-Unit, Class "B", Multifamily Portfolio | 5.6% Cap Rate | Dublin, GA

1003 Claxton Dairy Road & 104 Parker Dairy Road
Dublin, GA 31021
PRICE : $16,000,000
CAP RATE: 5.6%
PROPERTY TYPE: Multifamily
UNITS: 203

Highlights

  • Virtually no vacancies in "market rent" multifamily properties within 40 miles
  • Asking price of $73/SF - well below estimated construction cost of $135/SF
  • 35,000 employees within 5 miles of properties
  • Dublin serves as the economic hub of central southeast Georgia
  • Dublin named as one of top 20 locations in the nation for economic development
  • Burgeoning economy in part due to links to fastest growing seaport in the nation
  • Pecan Ridge Apts. nestled in a Pecan grove have a campy, retreat, rural resort feel
  • Experienced property management staff has been with properties for years

Description

Opportunity to acquire two, Class "B", fully-occupied, well-maintained, operationally "turn key," market rent apartment communities in Dublin, GA with below market rents in a market with virtually no vacancies. Offered at 5.2% cap rate on actual, 5.6% cap rate on Year 1.

The two properties total 203 units and are 2.2 miles apart located along a major transportation corridor that connects the 2nd busiest seaport on the East Coast - fastest growing nationally - to the rest of the country. Rents demonstrably 29% below market with the largest 2 & 3-bedroom units in the market. Includes land sufficient to build 60 or more units in Opportunity Zone.

ARRANGE ALL PROPERTY TOURS WITH BULL REALTY. DO NOT DISTURB TENANTS.

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