Value-Add Apartment
1620 E Park Ave Valdosta, GA 31602
New
1620 E Park Ave, Valdosta, GA, 31602
$615,000
For Sale
$615,000
MULTI_FAMILY - Valdosta, GA
Property Size7,934 SF
Lot Size0.71 Acres
Price / SF$77.51
Days on Market2
Property Features for 1620 E Park Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-M
- 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
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
1616 Norman Dr Suite E, Valdosta, GA
Listed by
Autumn Wibright
(229) 597-3331
Added: Jul 16 Checked: Jul 17 at 7:06 pm
MLS# 154395
Listing URL
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.
Investment Insights
Based on property information with market context.
This 17-unit apartment building offers a mix of unit types, including 12 studios, 3 one-bedroom/one-bath units, and 2 two-bedroom/one-bath units. The property totals 7,934 square feet on a 0.71-acre lot. Six units are currently vacant and ready for renovation.
The listing describes the building as located near downtown and major employers in Valdosta, Georgia, with access implied by its established residential setting at 1620 E Park Ave.
Rents are reported to range from $550 to $750 per month, with a mix of annual and at-will leases. The property is noted as being in Valdosta’s Opportunity Zone and presented as a value-add repositioning opportunity.
The listing describes the building as located near downtown and major employers in Valdosta, Georgia, with access implied by its established residential setting at 1620 E Park Ave.
Rents are reported to range from $550 to $750 per month, with a mix of annual and at-will leases. The property is noted as being in Valdosta’s Opportunity Zone and presented as a value-add repositioning opportunity.
Key Highlights
- 17‑unit apartment building in Valdosta Opportunity Zone
- Unit mix: 12 studios, 3 1BR/1BA, and 2 2BR/1BA across 7,934 SF
- 0.71‑acre lot with wood siding exterior
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $92.4k | $11.64 |
| − Vacancy | −$5.7k | −$0.72 |
| EGI | $86.6k | $10.92 |
| − OpEx | −$39.0k | −$4.91 |
| NOI | $47.6k | $6.01 |
7,934 SF · lease $11.64/SF/yr · vacancy 6.20% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seventeen-unit multifamily property with six vacant units ready for renovation.
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 in Valdosta Opportunity Zone; Unit mix: 12 studios, 3 1BR/1BA, and 2 2BR/1BA across 7,934 SF; 0.71‑acre lot with wood siding exterior
