Updated Triplex Near Downtown
For Sale
$290,000
305 Walker Street, Augusta, GA 30901
MULTI_FAMILY - Augusta, GA
Property Size2,114 SF
Lot Size0.23 Acres
Price / SF$137.18
Days on Market857
Property Features for 305 Walker Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 2, Bathroom 2, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1
Subdivision
Old Towne
Elementary school
Hornsby
Middle school
Hornsby WS
High school
Lucy Laney
Directions
Historic Old Towne, Gordon Hwy to Walton Way right, left on 3rd St then left on Walker house on right across from Thankful Baptist Church
Standard status
Active
APN
0474192000
Size
2,114 SF
Lot size
0.23 Acres
Taxes and HOA fees
Tax Annual Amount
1712
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Cooling system
Multi Units
Water source
Public
Building Details
Year built
1906
Number of units
3
Building materials
Vinyl Siding
Listing Agency:
Re/max True Advantage
(706) 922-9292
Listed By:
Wendy Denise Daniels · License #SC91300
(770) 715-8805
Added: Apr 8, 2024
Changed: Aug 10
Last Checked: Aug 12 at 2:06PM
MLS# 98204861
Copyright © 2026 Hive MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This multifamily property in Augusta, Georgia, presents an investment opportunity with all three units currently occupied. The property features three units: Unit A is a 2-bedroom, 1-bath apartment; Unit B is a 1-bedroom, 1-bath apartment; and Unit C is a studio with a small full kitchen. The property has a total size of 2114 square feet and is situated on a 0.23-acre lot. Recent updates include new paint, flooring, and appliances in all units. High ceilings with crown molding add to the historic charm of the property. The location provides convenient access to downtown dining, the medical district, the Cyber Center, and Aiken/Augusta Highway and Bobby Jones Expressway.
Key Highlights
- Three‑unit property built in 1906 with vinyl siding
- All three units are occupied: Unit A (2BD/1BA), Unit B (1BD/1BA), and Unit C (studio with full small kitchen)
- Recent unit updates include paint, flooring, and appliances
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,732
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.15%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$414,640
$414.6K
Cap Rate 7%
$296,171
$296.2K
Cap Rate 9%
$230,356
$230.4K
Market Conditions
NOI Build-Up for 2,114 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$32.2K $15.24/SF
− Vacancy
−$2.6K −$1.23/SF
EGI
$29.6K $14.01/SF
− OpEx
−$8.9K −$4.20/SF
NOI
$20.7K $9.81/SF
Area
Augusta, GA
Vacancy
8.07%
Lease Rate
$15.24 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$414,640
Cap Rate 7%
$296,171
Cap Rate 9%
$230,356
Alternative Uses
Best Use
Multifamily LT 5
$296.2K
$259.2K – $345.5K
NOI $20,732 @ 7.0% cap · market cap 7.15%
Second Best
Apartment 5plus
$273.6K
$239.4K – $319.2K
NOI $19,150 @ 7.0% cap · market cap 6.60%
Theoretical Best
Office A
$667.3K
$583.9K – $778.5K
NOI $46,708 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,979
Businesses Nearby
Explore this area
Business Placement
Demographics for 30901, GA
15,978
Population
8,848
Households
1.8
Avg Household Size
38
Median Age
13%
College-Educated
76%
High-School Grad
17.6 sq mi
ZIP Area
908
Density / Sq Mi
$23,019
Median Household Income
$24,349
Median Earnings
$805
Median Rent
$92,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Updated triplex with high ceilings, close to downtown Augusta.
Where is this triplex located?
The property is located at 305 Walker Street Augusta, GA.
What is the asking price?
The asking price for this property is $290,000.
What are key features of this property?
This property features: Three‑unit property built in 1906 with vinyl siding; All three units are occupied: Unit A (2BD/1BA), Unit B (1BD/1BA), and Unit C (studio with full small kitchen); Recent unit updates include paint, flooring, and appliances
