8-Unit Renovated Apartment
New
For Sale
$699,000
213 16th St, Columbus, GA 31901
All eight apartments are vacant, with substantial renovations completed and limited finishing work remaining.
Property Size4,552 SF
Price / SF$153.56
Days on Market4
Property Features for 213 16th St
General Information
Standard status
Active
Size
4,552 SF
Property Condition
Severity
Repairs Needed
Evidence
partial exterior repairs and minor interior finishing items
Units
Unit Mix
6 x 1BR, 1 x 2BR, 1 x studio
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$2,747
Listing Agency:
The Armani Agency, LLC
Listed By:
Gabrielle Johnson · License #373234
(470) 795-9682
Source:
Exprealty
Added: Oct 22
Changed: Oct 25
Last Checked: Oct 25 at 2:39AM
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 The Armani Agency, LLC
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Investment Insights
Based on property information with market context.
This 8-unit apartment property contains approximately 4,552 square feet. The unit mix comprises six one-bedroom apartments, one two-bedroom apartment, and one studio. Renovation work includes updated bathrooms, refreshed bedrooms and living areas, interior and exterior paint, feature walls, and modern finishes. A fire protection system is in place. The property is 90% renovated; partial exterior repairs and minor interior finishing work remain. All eight units are currently vacant.
The property is on 16th Street in Columbus, near Columbus State University, healthcare employers, Uptown restaurants and entertainment, the Chattahoochee RiverWalk, shopping, and local attractions.
The property is on 16th Street in Columbus, near Columbus State University, healthcare employers, Uptown restaurants and entertainment, the Chattahoochee RiverWalk, shopping, and local attractions.
Key Highlights
- Eight apartments totaling approximately 4,552 square feet
- Unit mix: six one‑bedroom apartments, one two‑bedroom apartment, and one studio
- Currently 100% vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,518
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,360
$730.4K
Cap Rate 7%
$521,686
$521.7K
Cap Rate 9%
$405,756
$405.8K
Market Conditions
NOI Build-Up for 4,552 SF
Gross rent
$71.0K $15.60/SF
− Vacancy
−$4.6K −$1.01/SF
EGI
$66.4K $14.59/SF
− OpEx
−$29.9K −$6.56/SF
NOI
$36.5K $8.02/SF
Area
Columbus, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$730,360
Cap Rate 7%
$521,686
Cap Rate 9%
$405,756
Alternative Uses
Best Use
Apartment 5plus
$521.7K
$456.5K – $608.6K
NOI $36,518 @ 7.0% cap · market cap 5.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.02M
$891.2K – $1.19M
NOI $71,296 @ 7.0% cap · market cap 10.20%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
1,733
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
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 - All eight apartments are vacant, with substantial renovations completed and limited finishing work remaining.
Where is this apartment building located?
The property is located at 213 16th St Columbus, GA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Eight apartments totaling approximately 4,552 square feet; Unit mix: six one‑bedroom apartments, one two‑bedroom apartment, and one studio; Currently 100% vacant
