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t r a n s l a t e

Oak Park Apartments | Fully-Occupied Multifamily Complex | 64 Units

2515 College Drive
Phenix City, AL 36869
PRICE : $5,000,000
PROPERTY TYPE: Multifamily
SITE SIZE: 3.94 Acres
UNITS: 64
YEAR BUILT: 1976

Highlights

  • Located adjacent to 2 college campuses
  • High security area with campus security patrolling
  • Public college campuses provide huge park-like amenity
  • Only 4 miles from Columbus central business district
  • Columbus is home to numerous corporate headquarters, e.g. AFLAC, TSYS
  • 8 miles from Georgia's 3rd largest employer - Fort Benning
  • Beautiful mile long entrance on college campus
  • 94% to 100% occupied. No college students are tenants
  • AL License #000083871-0

Description

Opportunity to acquire a 64-unit, fully-occupied, well-maintained and operationally "turn key" market rent apartment community in a suburb of metro Columbus, GA - the 2nd largest city in Georgia. Offered at a 6% cap rate based upon in-place rents. The property is located 4 miles from Downtown Columbus, GA just across the Georgia/Alabama line - denoted by the Chattahoochee River -in Phenix City, Alabama.

In-place rents are 25% below market in a market with less than 3% vacancy.

Please do not disturb or discuss with tenants or staff.

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