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Listed by Caleb Ross Canopy Realty Group
$ 4,145,000
Est. payment /mo
Active
0 Douglas- 58 Door Portfolio #63 Douglas, GA 31533
55,408 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Unit
Listing Status Active
Purchase Type For Sale
Square Footage 55,408 sqft
Price per Sqft $74
MLS Listing ID 153914
HOA Y/N No
Lot Size 27.800 Acres
Property Sub-Type Multi Unit
Property Description
Rare opportunity to acquire a 58-unit workforce housing portfolio strategically located throughout Coffee County, including Douglas and Broxton, Georgia. The portfolio currently generates approximately $33,853 in monthly rental income (approximately $406,236 annually) and consists of 22 park-owned homes, 13 tenant-owned home lots, 4 single-family rentals, 4 duplexes, 1 triplex, and 2 quadplexes. Seven of the park-owned homes are located within a mobile home park alongside the 13 tenant-owned lot rentals, while the remaining assets are strategically dispersed throughout the market, providing diversification across multiple property types and locations. The portfolio is 96.6% occupied, with only two vacant units offering immediate lease-up opportunities. Many properties feature tenant-paid utilities and individually metered electric service, helping minimize operating expenses. The portfolio includes 22 homes served by city water, 16 properties connected to city sewer, with the remaining assets utilizing private well and septic systems. Ownership has invested heavily in the portfolio through extensive capital improvements, including 23 recently installed metal roofs, along with renovations across numerous units, resulting in minimal deferred maintenance throughout much of the portfolio. Current operations provide strong in-place cash flow with significant additional upside. Estimated market rents total approximately $46,125 per month, creating a clear path to increased revenue through lease-up of the vacant units and the gradual repositioning of below-market rents. Additionally, 42 tenants are currently on month-to-month leases, allowing a new owner to implement rent adjustments and operational improvements quickly, while the remaining tenants are secured under annual lease agreements. This offering presents a rare opportunity to acquire institutional-scale workforce housing in one of South Georgia's strongest affordable housing markets with immediate cash flow.
Location
State GA
Area 11-Other
Zoning R, C
Interior
Interior Features Other
Heating Central, Other
Cooling Central Air, Electric, Other
Appliance Other
Exterior
Exterior Feature Other
Parking Features 3+ Cars, Other
Garage Spaces 3.0
View Y/N No
Roof Type Shingle,Metal
Garage No
Building
Story 1
Sewer Public Sewer, Septic Tank
Water Well, Public
Level or Stories One
Others
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