Well-Maintained Multifamily Investment
2501 Redwood Ct, Albany, GA 31707
21 condo units with value-add potential in Albany, GA.
Type:Multifamily
Property size:
23,520 SFPrice / SF:
$75/SF- Added:
- Mar 4, 2026
- Days on Market:
- 69
- Last Refresh:
- Mar 16 at 2:32 pm
Property Features for 2501 Redwood Ct
General Information
- Standard status
- Active
- Size
- 23,520 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1969
Listing agent Joe Klenck License #FLSL3555950
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
HighLights
- 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.
- Healthy HOA financially, run by an owner with a voting majority.
- Washer/dryer hookups in all units.
- Potential to renovate 5 remaining units.
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.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Albany
- County
- Dougherty
- State
- Georgia
- Longitude
- -84.205197
- Latitude
- 31.61199
Nearby Similar for Sale
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.
