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Multifamily Portfolio | 3 Properties in Cordele, GA | 6.5% Cap Rate

Cordele Portfolio
Cordele, GA 31015
PRICE : $8,400,000
CAP RATE: 6.5%
PROPERTY TYPE: Multifamily
UNITS: 120

Highlights

  • Typically 98% to 100% occupied
  • Located at the nexus of the busiest Interstate, I-75, in the nation and 4 major railroads
  • Growing economic hub
  • Below market rents - in place rents are 33% below demonstrated market rates
  • Low vacancy market - less than 2%
  • Below market price per unit
  • Acute housing shortage in market
  • 15 days to evict versus 6 months in metro Atlanta

Description

Opportunity to acquire fully occupied apartment communities - 36, 36 and 48 units - totaling 120 units in a location in Cordele, GA within an mile of each other.
Offered at a 6.5% cap rate based upon in-place rents. Cordele, located at the nexus of the nation's busiest Interstate - I-75 and 4 major rail lines, with a direct connection to the U.S.'s fastest growing seaport and second busiest on the East Coast - Savannah, is uniquely situated for economic stability and growth.
Visits to the property need to be arranged with Bull Realty by appointment. Do not disturb or discuss with tenants or staff.

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