2501 Redwood Ct, Albany, GA 31707

Building Details

Year Built

1969

Listing office The Multifamily Advisors from Beau Beery Multifamily Advisors

Listing date Mar 4, 2026

Source Crexi

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 Multifamily Advisors from Beau Beery Multifamily Advisors

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Overview

This offering features 21 of 44 condo units, with 15 of the 21 units fully remodeled. The units are part of an association managed by the owner of the 21 units, who holds the position of President and maintains a voting majority. Each unit includes 2 bedrooms and 1.5 bathrooms, with a size of 1,120 square feet. The units generate an average monthly rental income of approximately $1,100. The seller owns units in 10 of the 11 buildings, and the Homeowners Association (HOA) is in a stable financial position. There is a vacant lot that presents the opportunity for construction or development of an amenity by acquiring it from the HOA. While the average in-place rent is $1,083, there is potential to increase profitability by adding furniture, washers/dryers, and utilities. Most tenants are month-to-month, allowing for quick implementation of these changes. All units are equipped with washer and dryer hookups. The former pool house building, with the pool area having been filled and landscaped, could be rented for storage by the HOA, potentially reducing HOA fees for all members. The existing tennis courts could be converted into pickleball courts to enhance tenant retention. There are 5 remaining units that could be renovated.

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

• Map
• Local Demand

City

Albany

County

Dougherty

State

Georgia

Longitude

-84.205197

Latitude

31.61199

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FAQs

What type of property is this?

Apartment building - 21 condo units with value-add potential in Albany, GA.

Where is this apartment building located?

The property is located at 2501 Redwood Ct Albany, GA.

What is the asking price?

The asking price for this property is $1,775,000.

What are key features of this property?

This property features: 8.0% Cap Rate at $84.5k/unit with $1,100/month average rents.; Opportunity to increase rents by adding furniture, washers/dryers, and utilities.; Vacant lot available for building or amenity development.