6-Unit Historic Apartment
For Sale
$549,900
824 2nd Avenue, Columbus, GA 31901
Furnished accommodations include a mix of longer-term tenants and short-term rental units.
Property Size4,324 SF
Price / SF$127.17
Days on Market9
Property Features for 824 2nd Avenue
General Information
Standard status
Active
Size
4,324 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
a little TLC
Additional Details
Furnished
Yes
Gross Income
$110,640
Multifamily Units
6
Building Details
Buildings
2
Listing Agency:
Bickerstaff Parham, LLC
(706) 653-1400
Listed By:
Christopher Gordon · License #386273
(706) 442-4224
Source:
Exprealty
Added: Oct 5
Changed: Oct 11
Last Checked: Oct 12 at 10:50PM
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 Bickerstaff Parham, LLC
Investment Insights
Based on property information with market context.
This historic multifamily property contains six furnished units. Five are in the main house, which measures 3,727 square feet; a separate rear apartment adds 597 square feet. Hardwood floors, high ceilings in some units, and clawfoot tubs in a couple of units are among the interior features. The property needs some work.
Three units have longer-term tenants, while the other three operate as short-term rentals. The property is close to Uptown Columbus.
Three units have longer-term tenants, while the other three operate as short-term rentals. The property is close to Uptown Columbus.
Key Highlights
- Six furnished units: three with longer‑term tenants and three used as short‑term rentals
- Main house contains five units across 3,727 square feet
- Separate rear apartment measures 597 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,688
Cap Rate
6.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$693,760
$693.8K
Cap Rate 7%
$495,543
$495.5K
Cap Rate 9%
$385,422
$385.4K
Market Conditions
NOI Build-Up for 4,324 SF
Gross rent
$67.5K $15.60/SF
− Vacancy
−$4.4K −$1.01/SF
EGI
$63.1K $14.59/SF
− OpEx
−$28.4K −$6.56/SF
NOI
$34.7K $8.02/SF
Area
Columbus, 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%
$693,760
Cap Rate 7%
$495,543
Cap Rate 9%
$385,422
Alternative Uses
Best Use
Apartment 5plus
$495.5K
$433.6K – $578.1K
NOI $34,688 @ 7.0% cap · market cap 6.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$967.5K
$846.6K – $1.13M
NOI $67,725 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,845
Businesses Nearby
Explore this area
Business Placement
Demographics for 31901, GA
7,126
Population
3,971
Households
1.8
Avg Household Size
36
Median Age
35%
College-Educated
82%
High-School Grad
4.4 sq mi
ZIP Area
1,620
Density / Sq Mi
$47,316
Median Household Income
$35,062
Median Earnings
$893
Median Rent
$208,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Furnished accommodations include a mix of longer-term tenants and short-term rental units.
Where is this apartment building located?
The property is located at 824 2nd Avenue Columbus, GA.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Six furnished units: three with longer‑term tenants and three used as short‑term rentals; Main house contains five units across 3,727 square feet; Separate rear apartment measures 597 square feet
