203-Unit, Class "B", Multifamily Portfolio | 5.6% Cap Rate | Dublin, GA
1003 Claxton Dairy Road & 104 Parker Dairy Road
Dublin, GA 31021
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.
