64-Unit Renovated Apartment
2515 College Dr, Phenix City, AL 36869
For Sale
New
Contact for pricing
Set across from Chattahoochee Valley Community College, the community includes two-bedroom homes with central heating and air.
Property Size54,400 SF
Days on Market5
Property Features for 2515 College Dr
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Average Monthly Rent
Road Access
Tenant in Place
Amenities
central heat and air
washer/dryer connections
Renovated and ready to lease: About 80% of the units feature new cabinets, appliances, and LVT flooring, so a buyer inherits the upgrade without funding it
23.6% rent upside: In-place rents average $797, while existing leases are already achieving $985
Spacious, well-equipped floor plans: All 64 units are 850 SF two-bedroom homes with central heat and air and washer/dryer connections in every unit
Built-in lease-up upside: Leasing the 9 vacant units and returning the office and shop units to service adds about $130,000 in annual gross rent at $985
Across from Chattahoochee Valley Community College: The campus is directly across the street, and Fort Benning and new manufacturing employers anchor demand on both sides of the river
Building Details
Building Size
Year Built
Year Renovated
Units
Construction
Listing Agency:
Marcus & Millichap | Birmingham
Listed By:
Eddie Greenhalgh
(205) 510-9200
Source:
Marcusmillichap
Added: Nov 8
Changed: Nov 10
Last Checked: Nov 12 at 4:11AM
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 Marcus & Millichap | Birmingham
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Investment Insights
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Built in 1976 and updated in 2024, this Phenix City apartment community contains 64 two-bedroom, one-bath units averaging 850 square feet. About 80% have received new cabinetry, appliances, and luxury vinyl tile flooring. Central heat and air, along with washer/dryer connections, are provided in every unit. Occupancy is 85.5%; two apartments are presently assigned to office and maintenance functions, with the potential to return them to residential use and place all 64 units on the rent roll.
The property fronts College Drive, opposite Chattahoochee Valley Community College. Columbus and Fort Benning are also described as minutes away; Fort Benning is identified in the source information as a major regional employer. The site is in Phenix City, Alabama, within the Columbus, Georgia–Alabama metropolitan statistical area.
The property fronts College Drive, opposite Chattahoochee Valley Community College. Columbus and Fort Benning are also described as minutes away; Fort Benning is identified in the source information as a major regional employer. The site is in Phenix City, Alabama, within the Columbus, Georgia–Alabama metropolitan statistical area.
Key Highlights
- 64 two‑bedroom, one‑bath apartments averaging 850 square feet each
- Built in 1976; renovated in 2024
- Approximately 80% of units have new cabinetry, appliances, and luxury vinyl tile flooring
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
64
Residential units
85.5%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
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Business Placement
Demographics for 36869, AL
21,748
Population
10,372
Households
2.1
Avg Household Size
37
Median Age
15%
College-Educated
82%
High-School Grad
76.3 sq mi
ZIP Area
285
Density / Sq Mi
$50,341
Median Household Income
$34,418
Median Earnings
$895
Median Rent
$129,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Set across from Chattahoochee Valley Community College, the community includes two-bedroom homes with central heating and air.
Where is this apartment building located?
The property is located at 2515 College Dr Phenix City, AL.
What are key features of this property?
This property features: 64 two‑bedroom, one‑bath apartments averaging 850 square feet each; Built in 1976; renovated in 2024; Approximately 80% of units have new cabinetry, appliances, and luxury vinyl tile flooring
