2501 Redwood Ct Albany, GA 31707

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.