Renovated Apartment Building
3815 BAKER PLAZA DR Columbus, GA 31903
For Sale
Contact for pricing
Five Oaks Apartments is fully stabilized and recently renovated, with roofs, HVAC, and interiors updated.
Property Size29,000 SF
Price / SF$87.93
Days on Market54
Property Features for 3815 BAKER PLAZA DR
General Information
- Standard status
- Active
- Size
- 29,000 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing Agency:
Marcus & Millichap - Atlanta
Listed By:
Harold Shepard · License #445263
Source:
Crexi
Added: Jun 1
Changed: Jul 23
Last Checked: Jul 23 at 11:15AM
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 - Atlanta
Investment Insights
Based on property information with market context.
Five Oaks Apartments is a fully stabilized multifamily asset in Columbus, GA, presented for sale by Marcus & Millichap. The property has completed approximately $450,000 in renovations, including roof, HVAC, and interior improvements. Current operations reflect rent levels that are approximately $100 below market, supporting an operational value-add focus.
The offering is positioned in a major Georgia secondary market with local economic support cited through major companies and Fort Moore military base. The City of Columbus is described as growing faster than other parts of the state, supported by projects in manufacturing, tech, and aerospace, including a multi-billion dollar data center investment. The remarks also note ongoing downtown renovation and a plan to continue job creation.
This is a cash-flowing, stabilized apartment property with recent capital improvements to support continued operations.
The offering is positioned in a major Georgia secondary market with local economic support cited through major companies and Fort Moore military base. The City of Columbus is described as growing faster than other parts of the state, supported by projects in manufacturing, tech, and aerospace, including a multi-billion dollar data center investment. The remarks also note ongoing downtown renovation and a plan to continue job creation.
This is a cash-flowing, stabilized apartment property with recent capital improvements to support continued operations.
Key Highlights
- Five Oaks Apartments in Columbus, GA; built in 1971
- Recently renovated with around a $450k renovation, including roofs, HVACs, and interior updates
- Fully stabilized apartment asset with rents around $100 below market
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $452.4k | $15.60 |
| − Vacancy | −$29.4k | −$1.01 |
| EGI | $423.0k | $14.59 |
| − OpEx | −$190.3k | −$6.56 |
| NOI | $232.6k | $8.02 |
29,000 SF · lease $15.60/SF/yr · vacancy 6.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.32M
$2.91M – $3.88M
NOI $232,647 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.49M
$5.68M – $7.57M
NOI $454,215 @ 7.0% cap · market cap 17.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Five Oaks Apartments
Apartment Complex
FAQs
What type of property is this?
Apartment building - Five Oaks Apartments is fully stabilized and recently renovated, with roofs, HVAC, and interiors updated.
Where is this apartment building located?
The property is located at 3815 BAKER PLAZA DR Columbus, GA.
What is the asking price?
The asking price for this property is $2,550,000.
What are key features of this property?
This property features: Five Oaks Apartments in Columbus, GA; built in 1971; Recently renovated with around a $450k renovation, including roofs, HVACs, and interior updates; Fully stabilized apartment asset with rents around $100 below market
