Multi-Family Income
New
For Sale
$375,000
524 S Washington Avenue, Talbotton, GA 31827
MULTI_FAMILY - Talbotton, GA
Property Size3,536 SF
Lot Size1.23 Acres
Price / SF$106.05
Days on Market4
Property Features for 524 S Washington Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
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.
Subdivision
15-Talbot County
Standard status
Active
APN
005 12256 D
Size
3,536 SF
Lot size
1.23 Acres
Utilities
Utilities
Water Available
Heating system
Electric (Heating)
Cooling system
Window Unit(s)
Amenities
shared coin-operated laundry area
Building Details
Year built
1948
Number of units
15
Flooring type
Vinyl, Carpet
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Lamar Fields · License #112290
(706) 593-8077
Added: Jul 27
Last Checked: Jul 30 at 5:06PM
MLS# 233242
Copyright © 2026 Columbus Board of Realtors (GA). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This income-producing property is turn-key and consists of two separate lots. One lot includes a large 11-unit building, and the second lot includes a residential property with 4 additional units, for a total of 15 rental units. The current unit mix includes three 2-bedroom/1-bath units and twelve 1-bedroom/1-bath units. Interiors feature LVP flooring throughout the units, with individual window heating and air-conditioning units. A shared, coin-operated laundry area serves the property.
The lot containing the 11-unit building is zoned C-3, while the lot containing the 4-unit residential property is zoned residential.
Current rents are reported to range from approximately $450 to $550 per month, with an average of approximately $500 per unit on month-to-month rental arrangements.
The lot containing the 11-unit building is zoned C-3, while the lot containing the 4-unit residential property is zoned residential.
Current rents are reported to range from approximately $450 to $550 per month, with an average of approximately $500 per unit on month-to-month rental arrangements.
Key Highlights
- 15 total rental units across two separate lots: one 11‑unit building plus a 4‑unit residential property
- Unit mix includes three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units
- Current rents range approximately $450–$550 per month, averaging about $500 per unit on month‑to‑month arrangements
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 | $55.2k | $15.60 |
| − Vacancy | −$3.6k | −$1.01 |
| EGI | $51.6k | $14.59 |
| − OpEx | −$23.2k | −$6.56 |
| NOI | $28.4k | $8.02 |
3,536 SF · lease $15.60/SF/yr · vacancy 6.50% · expense 45.00%
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.
Property Analytics
Property Profile
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
90
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Turn-key multifamily asset totaling 15 rental units across two lots with on-site coin laundry.
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: one 11‑unit building plus a 4‑unit residential property; Unit mix includes three 2‑bedroom/1‑bath units and twelve 1‑bedroom/1‑bath units; Current rents range approximately $450–$550 per month, averaging about $500 per unit on month‑to‑month arrangements
