15-Unit Apartment Building with Coin
For Sale
$375,000
524 S Washington Avenue, Talbotton, GA 31827
Turn-key 15-unit apartment property with LVP flooring and a shared coin-operated laundry area.
Property Size1,948 SF
Price / SF$106.05
Days on Market98
Property Features for 524 S Washington Avenue
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Commercial
Units
Unit Mix
3 x 2BR/1BA, 12 x 1BR/1BA
Multifamily Units
15
Additional Details
Average Monthly Rent
$500
Amenities
shared coin-operated laundry area
0.64 acres, Level
Metal
Public Sewer
Parcel Number: 005 12256 D, Annual Amount: $3,359.63, Year: 25
Carpet, Vinyl
Electric, Window Unit(s)
Electric
Listing ID: 10813421, Standard Status: Active, MLS Status: Active, On market as of 2026-07-24, 96 days on market
Built in 1948, Construction Materials: Brick
County/Parish: Talbot
Resale
Electricity Available, Sewer Available, Water Available, Water Source: Public
Close Of Escrow
Building Details
Building Size
1,948 SF
Year Built
1948
Listing Agency:
Coldwell Banker Kennon & Parker
(706) 845-7000
Listed By:
Lamar Fields · License #266466
(706) 593-8077
Source:
Blackstreaminternational
Added: Jul 24
Changed: Oct 29
Last Checked: Oct 28 at 8:40AM
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 Coldwell Banker Kennon & Parker
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Investment Insights
Based on property information with market context.
This turn-key apartment investment includes two separate lots totaling 15 rental units: a large 11-unit building and a residential property with 4 additional units. The unit mix is three 2-bedroom/1-bath units and twelve 1-bedroom/1-bath units. Interior finishes include LVP flooring throughout the units, along with individual window heating and air-conditioning units. A shared coin-operated laundry area supports tenant needs.
The lot with the 11-unit building is zoned C-3, while the lot containing the 4-unit residential property is zoned residential. The property was built in 1948 and is approximately 3,536 SF.
All 15 units are arranged on month-to-month rental arrangements, creating operational flexibility for day-to-day management.
The lot with the 11-unit building is zoned C-3, while the lot containing the 4-unit residential property is zoned residential. The property was built in 1948 and is approximately 3,536 SF.
All 15 units are arranged on month-to-month rental arrangements, creating operational flexibility for day-to-day management.
Key Highlights
- Total 15 rental units across two separate lots: 11‑unit building plus 4‑unit property
- Unit mix: three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units
- LVP flooring throughout the units and window heating/air‑conditioning units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,367
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,340
$567.3K
Cap Rate 7%
$405,243
$405.2K
Cap Rate 9%
$315,189
$315.2K
Market Conditions
NOI Build-Up for 3,536 SF
Gross rent
$55.2K $15.60/SF
− Vacancy
−$3.6K −$1.01/SF
EGI
$51.6K $14.59/SF
− OpEx
−$23.2K −$6.56/SF
NOI
$28.4K $8.02/SF
Area
Talbot County, GA
Vacancy
6.50%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$567,340
Cap Rate 7%
$405,243
Cap Rate 9%
$315,189
Alternative Uses
Best Use
Apartment 5plus
$405.2K
$354.6K – $472.8K
NOI $28,367 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$791.2K
$692.3K – $923.1K
NOI $55,383 @ 7.0% cap · market cap 14.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
85
Businesses Nearby
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Business Placement
Demographics for 31827, GA
1,734
Population
1,014
Households
1.7
Avg Household Size
49
Median Age
15%
College-Educated
78%
High-School Grad
153.1 sq mi
ZIP Area
11
Density / Sq Mi
$45,170
Median Household Income
$26,674
Median Earnings
$1,013
Median Rent
$90,900
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 - Turn-key 15-unit apartment property with LVP flooring and a shared coin-operated laundry area.
Where is this apartment building located?
The property is located at 524 S Washington Avenue Talbotton, GA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Total 15 rental units across two separate lots: 11‑unit building plus 4‑unit property; Unit mix: three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units; LVP flooring throughout the units and window heating/air‑conditioning units
