Greensboro Multifamily Investment
1030 Heritage Drive Greensboro, GA 30642
1030 Heritage Drive, Greensboro, GA, 30642
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For Sale
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Value-add multifamily property in growing Greensboro market.
Days on Market113
Property Features for 1030 Heritage Drive
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1974
Listing agency
(943) 200-0489
Listed by
Benjamin Papizan · License #GA #450163
Source
Franklinst
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM
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 Benjamin Papizan
Investment Insights
Based on property information with market context.
This multifamily property in Greensboro presents a value-add opportunity with potential for rent growth through strategic upgrades. In-place rents are currently below market value, offering new ownership the possibility of achieving a 15-20% increase through lease-up and mark-to-market strategies. Renovated and re-leased units have already demonstrated achievable upside, realizing premiums of $100-$200 above legacy in-place rents. The property benefits from near-zero delinquency and low turnover, indicating a strong tenant base. Located in a rapidly expanding area near Lake Oconee, Greensboro is experiencing economic development initiatives and projected population growth of 12% through 2029. The local market exhibits an undersupply of market-rate apartment housing, allowing the property to maintain near-100% occupancy. All 16 units offer a defined value-add opportunity through interior renovations, positioning the asset for rent premiums upon turnover. Historical operations reflect extremely low vacancy, with long-term tenants in place for over 15 years. Prior unit turns have been limited to light improvements and maintenance, leaving substantial upside through comprehensive interior renovations such as countertops, flooring, and bathroom upgrades.
Key Highlights
- Significant rent growth potential (15‑20%) through strategic lease‑up and market adjustments.
- Proven rent premiums ($100-$200) achieved through renovations on re‑leased units.
- Near 100% occupancy and low turnover indicate a strong tenant base.
Property Analytics
Property Profile
Location Intelligence
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FAQs
What type of property is this?
Apartment building - Value-add multifamily property in growing Greensboro market.
Where is this apartment building located?
The property is located at 1030 Heritage Drive Greensboro, GA.
What are key features of this property?
This property features: Significant rent growth potential (15‑20%) through strategic lease‑up and market adjustments.; Proven rent premiums ($100-$200) achieved through renovations on re‑leased units.; Near 100% occupancy and low turnover indicate a strong tenant base.
