Stabilized Affordable Housing
For Sale
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112 South Cedar Street, Adel, GA 31620
141 stabilized affordable units across three South Georgia markets, ~94% occupied, with monthly rental income supported by HCV and state assistance.
Property Size51,356 SF
Price / SF$186.83
Days on Market97
Property Features for 112 South Cedar Street
General Information
Standard status
Active
Size
51,356 SF
Class
B
Property subtype
Multifamily
Zoning
Multi-family
Occupancy
94%
Investment Type
Stabilized
Additional Details
Multifamily Units
141
Building Details
Year Renovated
2021
Buildings
7
Stories
2
Units
1
Tenancy
Single
Listing Agency:
Coldwell Banker Commercial Premier Real Estate
Listed By:
John Courson · License #342868
(229) 244-3535
Source:
Crexi
Added: Jun 5
Changed: Aug 21
Last Checked: Sep 8 at 8:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Commercial Premier Real Estate
Investment Insights
Based on property information with market context.
The Courlley Portfolio is a stabilized affordable housing offering totaling 141 units across three properties: Courlley Court in Adel (36 units), Courlley Court II in Valdosta (40 units), and Courlley 303 in Albany (65 units). The portfolio is currently operating at approximately 94% occupancy and generates $102,052 in monthly rental income, with projected market rents of approximately $110,276 per month.
A substantial portion of the rental income is supported by Housing Choice Voucher (HCV) and state-funded rental assistance programs, helping reduce collection risk and income volatility compared to conventional multifamily investments. Ownership has invested significantly in renovations, modernization, and other capital improvements throughout the portfolio, supporting long-term performance with limited near-term capital requirements.
To facilitate the transaction, ownership may consider providing up to $1,000,000 in seller financing for qualified buyers, subject to creditworthiness and mutually agreeable terms. The offering is listed for sale at 112 South Cedar Street, Adel, GA 31620.
A substantial portion of the rental income is supported by Housing Choice Voucher (HCV) and state-funded rental assistance programs, helping reduce collection risk and income volatility compared to conventional multifamily investments. Ownership has invested significantly in renovations, modernization, and other capital improvements throughout the portfolio, supporting long-term performance with limited near-term capital requirements.
To facilitate the transaction, ownership may consider providing up to $1,000,000 in seller financing for qualified buyers, subject to creditworthiness and mutually agreeable terms. The offering is listed for sale at 112 South Cedar Street, Adel, GA 31620.
Key Highlights
- Courlley Portfolio with 141 stabilized affordable units across three South Georgia markets: Adel, Valdosta, and Albany
- Approximately 94% occupancy with $102,052 in monthly rental income
- Government‑backed payment sources include Housing Choice Voucher (HCV) and state‑funded rental assistance
Property Analytics
Property Profile
Current Use
Lease Details
141
Residential units
Location Intelligence
Trade Area within ½ mile
289
Businesses Nearby
Explore this area
Business Placement
Demographics for 31620, GA
10,822
Population
4,803
Households
2.3
Avg Household Size
39
Median Age
19%
College-Educated
85%
High-School Grad
125.0 sq mi
ZIP Area
87
Density / Sq Mi
$51,375
Median Household Income
$32,401
Median Earnings
$901
Median Rent
$137,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - 141 stabilized affordable units across three South Georgia markets, ~94% occupied, with monthly rental income supported by HCV and state assistance.
Where is this apartment building located?
The property is located at 112 South Cedar Street Adel, GA.
What is the asking price?
The asking price for this property is $9,595,000.
What are key features of this property?
This property features: Courlley Portfolio with 141 stabilized affordable units across three South Georgia markets: Adel, Valdosta, and Albany; Approximately 94% occupancy with $102,052 in monthly rental income; Government‑backed payment sources include Housing Choice Voucher (HCV) and state‑funded rental assistance
