15-Unit Apartment
For Sale
$375,000
524 S Washington Avenue, Talbotton, GA 31827
Commercial Sale, Talbotton, GA
Property Size3,536 SF
Lot Size0.64 Acres
Price / SF$106.05
Days on Market99
Property Features for 524 S Washington Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Lot features
Level
Directions
Take GA-85 N/US-27 ALT N, GA-315 E and GA-208 to Washington Ave in Talbotton, Property is on Rt or use GPS.
Standard status
Active
APN
005 12256 D
Size
3,536 SF
Lot size
0.64 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
25
Tax Annual Amount
3360
Utilities
Utilities
Water Available
Sewer type
Public Sewer
Heating system
Electric (Heating)
Cooling system
Window Unit(s), Electric
Water source
Public
Amenities
shared coin-operated laundry area
window heating and air-conditioning units
Building Details
Year built
1948
Flooring type
Carpet, Vinyl
Building materials
Brick
Roof type
Metal
Listing Agency:
Coldwell Banker Kennon & Parker · Coldwell Banker Real Estate
(706) 845-7000
Listed By:
Lamar Fields · License #266466
(706) 593-8077
Added: Jul 23
Changed: Oct 24
Last Checked: Oct 29 at 7:06PM
MLS# 10813421
Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This multifamily property spans two lots and includes an 11-unit apartment building plus a separate residential structure with 4 additional units. The 15-unit configuration comprises three 2-bedroom/1-bath units and twelve 1-bedroom/1-bath units. Units feature electric window heating and air-conditioning equipment, while residents share a coin-operated laundry area. The property includes brick construction, a metal roof, public water, and public sewer.
The 11-unit building is located on the C-3-zoned lot, while the four-unit residential property occupies a lot with residential zoning. The combined site covers 0.64 acres at 524 S Washington Avenue in Talbotton, Georgia. The property was built in 1948 and contains 3,536 square feet. Units are offered on month-to-month rental arrangements.
The 11-unit building is located on the C-3-zoned lot, while the four-unit residential property occupies a lot with residential zoning. The combined site covers 0.64 acres at 524 S Washington Avenue in Talbotton, Georgia. The property was built in 1948 and contains 3,536 square feet. Units are offered on month-to-month rental arrangements.
Key Highlights
- 15 total rental units across two separate lots
- Unit mix includes three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units
- 11‑unit building on a C‑3‑zoned lot plus a separate 4‑unit residential property
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,050
Cap Rate
8.55%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,000
$641.0K
Cap Rate 7%
$457,857
$457.9K
Cap Rate 9%
$356,111
$356.1K
Market Conditions
NOI Build-Up for 3,536 SF
Gross rent
$48.8K $13.80/SF
− Vacancy
−$3.0K −$0.85/SF
EGI
$45.8K $12.95/SF
− OpEx
−$13.7K −$3.88/SF
NOI
$32.1K $9.06/SF
Area
Talbot County, GA
Vacancy
6.17%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,000
Cap Rate 7%
$457,857
Cap Rate 9%
$356,111
Alternative Uses
Best Use
Multifamily LT 5
$457.9K
$400.6K – $534.2K
NOI $32,050 @ 7.0% cap · market cap 8.55%
Second Best
Apartment 5plus
$405.2K
$354.6K – $472.8K
NOI $28,367 @ 7.0% cap · market cap 7.56%
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
66
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 - Two-lot rental property with flexible month-to-month occupancy and shared laundry facilities.
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: 15 total rental units across two separate lots; Unit mix includes three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units; 11‑unit building on a C‑3‑zoned lot plus a separate 4‑unit residential property
