5-Property Multi-Family Portfolio | Columbus, GA
Sands Investment Group is Pleased to Present This Offering of a 5-Property Multi-Family Portfolio Located in the Heart of Columbus, GA. This Portfolio is Comprised of Cooper Cove Apartments, Fox Run Townhouses, Carolyne Ridge Apartments, Sheffield Drive Apartments and Talbotton Road Apartments. Totaling 180 Units With a Portfolio Unit Mix of 48 Units, 32 Units, 32 Units, 34 Units and 34 Units. Strategically Located Within Minutes of Each Other Providing Effective Economies of Scale With a Year of Completion Ranging From 2004 – 1962. New Ownership Will Benefit From Over $680,000 in Capital Improvements Over the Last 3 Years Through the Replacement of Newer Roofs, Newer HVACs, Kitchen Remodels, Paint & Flooring Upgrades. Extra Land Available on All 5 Properties, Providing an Opportunity to Upgrade Amenity Package With Playgrounds, Dog Parks, Grills, Picnic Tables, Benches, Cabanas and Fitness Areas.
A Significant Value-Add Opportunity to Renovate the Remaining 74 Classic Units and Raise Rents to Market Rate. New Ownership Can Capitalize on a Significant Loss-to-Lease With Proven In-Place Rents Being Filled at Market Rate. 15 Units Are Currently Vacant & Have Received Renovations Primed For Immediate Lease Up. An Implementation of a R.U.B.S. Program Will Notably Increase the Net Operating Income as Current Ownership Pays Water and Trash Utility.
Columbus, GA is the 2nd Largest City in Georgia and Home to Columbus State University, Aflac Headquarters, Kia Motors Manufacturing Plant, United States Military Base (Fort Moore) and Many Other Economic Drivers.
- Columbus, GA is the 2nd Largest City in the State of Georgia By Population
- Average In-Place Rents Are $830/Month With an Opportunity to Increase to $995/Month
- Value-Add Opportunity to Renovate the Remaining 74 “Classic Units” and Raise Rents to Market Rate
- 13 of the 24 Roofs Were Replaced in 2021 With Metal Roofs and 1 Shingle Roof
- Effective Economies of Scale as All 5 Properties Are Located Within Close Proximity of Each Other
- Significant Rental Growth as Rents Have Increased By 3.5% Over the Past 12 Months in Columbus, GA
- Strong Demographics Within a 5-Mile Radius With a Population of 165,328 and Average Household Income of $73,689
Cooper Cove Apartments – 48 Units
- Proven Rental Upside as the Average In-Place Rent is $844 and Average Market Rents Are $1,006
- A Favorable Unit Mix of 2 and 1 Bedroom Units
- Extra Land and an Unused Slab to Develop More Units and Add Roughly 12 More Units Across 2 Buildings
- 6 Units Are Currently Vacant and Have Received Renovations Primed For Immediate Lease Up to Raise Occupancy
- On-Site Leasing Office
Fox Run Townhouses – 32 Units
- Newer Metal Roofs Installed in 2021 On All 4 Buildings
- 2 Units Are Currently Vacant and Have Received Renovations Primed For Immediate Lease Up
- Favorable Unit Mix of 32, 2 Bedroom and 2 Bathroom Units
- Opportunity to Update Amenity Package With Playground, Dog Park, Outdoor Fitness Area, Cabanas, Grill Stations, Benches or Picnic Tables
- Ample Parking For Residents and Guests
- Each Townhouse is Accompanied With a Private Outdoor Patio
Carolyne Ridge Apartments – 32 Units
- 2004 Vintage With the Most Recent YOC of the Portfolio
- 3 Out of the 4 Roofs Were Replaced in 2021 With Metal Roofs
- Favorable Unit Mix of 32, 2 Bedroom and 2 Bathroom Units
- Gated Entry and Fenced For Privacy to Tenants
- Opportunity to Update Amenity Package With Playground, Dog Park, Grill Stations, Benches and Picnic Tables With Utilizing Unused Lan
Sheffield Drive Apartments – 34 Units
- 100% Occupied With a Great History of Occupancy
- New Ownership Will Benefit From Over $100,000 in Capital Improvements Over the Last 3 Years Through the Replacement of New Roofs, New HVACs, Exterior Improvements and Interior Improvements
- A Significant Value-Add Opportunity to Renovate the Remaining 15 Classic Units and Raise Rents to Market Rate
- 5 of 6 Roofs Are Newer and 4 Are Metal Roofs
- A Favorable Unit Mix of 12, 1-Bedroom Units and 22, 2- Bedroom Units
Talbotton Road Apartments – 34 Units
- Separately Metered Utilities Paid By Tenants
- All-Electric Property
- Newer Metal Roof
- Favorable Unit Mix of All 2 Bedroom Units
- Current Ownership Has Invested Over $150,000 in Capital Improvements
- On-Site Leasing Office
- Extra Land Can Be Utilized By Updating the Amenity Package Complete With Playground, Dog Park, Grills, Picnic Tables and Fitness Area
In Cooperation With Sands Investment Group Atlanta, LLC – Lic. #67374 BoR: Andrew Ackerman – Lic. GA #311619
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