5-Unit Apartment
For Sale
$489,000
1602 Central Ave N, Augusta, GA 30904
Fully occupied residential property positioned in Augusta’s medical district.
Property Size3,500 SF
Price / SF$139.71
Days on Market95
Property Features for 1602 Central Ave N
General Information
Standard status
Active
Size
3,500 SF
Property subtype
Commercial
Occupancy
100%
Site & Location
Neighborhood
Academy Baker Ave
Additional Details
Multifamily Units
5
Building Details
Year Built
1969
Buildings
1
Listing Agency:
David Buck Real Estate
Listed By:
David Briggs Buck · License #99366
(706) 564-8052
Source:
Augustaaikenhomefinder
Added: Aug 2
Changed: Nov 1
Last Checked: Nov 3 at 7:06AM
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 David Buck Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 3,500-square-foot apartment property includes one building with five residential units. Built in 1969, the asset is fully occupied, with every unit currently rented.
The property is located at 1602 Central Ave N in Augusta, Georgia, within the city’s medical district. Its existing occupancy and five-unit configuration provide a straightforward multifamily ownership profile.
The property is located at 1602 Central Ave N in Augusta, Georgia, within the city’s medical district. Its existing occupancy and five-unit configuration provide a straightforward multifamily ownership profile.
Key Highlights
- Five residential units in one building
- Fully occupied with all units currently rented
- 3,500 square feet of property size
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,705
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,100
$634.1K
Cap Rate 7%
$452,929
$452.9K
Cap Rate 9%
$352,278
$352.3K
Market Conditions
NOI Build-Up for 3,500 SF
Gross rent
$63.0K $18.00/SF
− Vacancy
−$5.4K −$1.53/SF
EGI
$57.6K $16.47/SF
− OpEx
−$25.9K −$7.41/SF
NOI
$31.7K $9.06/SF
Area
Augusta, GA
Vacancy
8.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$634,100
Cap Rate 7%
$452,929
Cap Rate 9%
$352,278
Alternative Uses
Best Use
Apartment 5plus
$452.9K
$396.3K – $528.4K
NOI $31,705 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.10M
$966.7K – $1.29M
NOI $77,332 @ 7.0% cap · market cap 15.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,545
Businesses Nearby
Explore this area
Business Placement
Demographics for 30904, GA
24,145
Population
12,558
Households
1.9
Avg Household Size
38
Median Age
31%
College-Educated
87%
High-School Grad
11.0 sq mi
ZIP Area
2,195
Density / Sq Mi
$45,636
Median Household Income
$29,101
Median Earnings
$953
Median Rent
$185,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied residential property positioned in Augusta’s medical district.
Where is this apartment building located?
The property is located at 1602 Central Ave N Augusta, GA.
What is the asking price?
The asking price for this property is $489,000.
What are key features of this property?
This property features: Five residential units in one building; Fully occupied with all units currently rented; 3,500 square feet of property size
