17-Unit Apartment
For Sale
$615,000
1620 E Park Ave, Valdosta, GA 31602
Residential Income, Valdosta, GA
Property Size7,934 SF
Lot Size0.71 Acres
Price / SF$77.51
Days on Market93
Property Features for 1620 E Park Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-M
Subdivision
East Park
Standard status
Active
APN
0153C 023
Size
7,934 SF
Lot size
0.71 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
in listing office
Tax Annual Amount
4578
Legal Description
in listing office
Utilities
Heating system
Central
Cooling system
Central Air
Building Details
Floors in Building
2
Building materials
Wood Siding
Listing Agency:
COLDWELL BANKER PREMIER REAL E
(229) 244-3535
Listed By:
John Courson · License #342868
(229) 251-4632
Added: Jul 16
Changed: Sep 3
Last Checked: Oct 16 at 1:06PM
MLS# 154395
Copyright © 2026 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 17-unit apartment property in Valdosta includes 12 studio apartments, three one-bedroom/one-bath units, and two two-bedroom/one-bath units. The building contains 7,934 square feet on a 0.71-acre parcel, with wood siding, central heating, and central air conditioning. Six apartments are vacant and designated for renovation, while the occupied units are leased under a combination of annual and at-will terms.
Located at 1620 E Park Ave, the property is within Valdosta’s Opportunity Zone and carries R-M zoning. Its unit mix spans compact studios through two-bedroom layouts, providing a range of residential configurations within one multifamily asset.
Located at 1620 E Park Ave, the property is within Valdosta’s Opportunity Zone and carries R-M zoning. Its unit mix spans compact studios through two-bedroom layouts, providing a range of residential configurations within one multifamily asset.
Key Highlights
- 17‑unit apartment building with 12 studios, 3 one‑bedroom/one‑bath units, and 2 two‑bedroom/one‑bath units
- 7,934 SF building situated on a 0.71‑acre lot
- Six vacant units designated for renovation
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,644
Cap Rate
7.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,880
$952.9K
Cap Rate 7%
$680,629
$680.6K
Cap Rate 9%
$529,378
$529.4K
Market Conditions
NOI Build-Up for 7,934 SF
Gross rent
$92.4K $11.64/SF
− Vacancy
−$5.7K −$0.72/SF
EGI
$86.6K $10.92/SF
− OpEx
−$39.0K −$4.91/SF
NOI
$47.6K $6.01/SF
Area
Lowndes County, GA
Vacancy
6.20%
Lease Rate
$11.64 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$952,880
Cap Rate 7%
$680,629
Cap Rate 9%
$529,378
Alternative Uses
Best Use
Apartment 5plus
$680.6K
$595.6K – $794.1K
NOI $47,644 @ 7.0% cap · market cap 7.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,316 @ 7.0% cap · market cap 13.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
17
Residential units
Location Intelligence
Trade Area within ½ mile
149
Businesses Nearby
Explore this area
Business Placement
Demographics for 31602, GA
35,999
Population
15,201
Households
2.4
Avg Household Size
33
Median Age
32%
College-Educated
89%
High-School Grad
39.9 sq mi
ZIP Area
902
Density / Sq Mi
$55,980
Median Household Income
$34,919
Median Earnings
$1,046
Median Rent
$197,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - R-M-zoned multifamily property with studio and one- and two-bedroom floor plans.
Where is this apartment building located?
The property is located at 1620 E Park Ave Valdosta, GA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: 17‑unit apartment building with 12 studios, 3 one‑bedroom/one‑bath units, and 2 two‑bedroom/one‑bath units; 7,934 SF building situated on a 0.71‑acre lot; Six vacant units designated for renovation
