Renovated Quadplex Rental
For Sale
$230,000
911 Lamore Street, Columbus, GA 31907
MULTI_FAMILY - Columbus, GA
Property Size2,519 SF
Lot Size0.61 Acres
Price / SF$91.31
Days on Market90
Property Features for 911 Lamore Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bedroom 1, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 3, Bedroom 3, Bathroom 2
Parking features
Driveway
Interior features
Walk-In Closet(s)
Appliances
Dishwasher, Range, Refrigerator
Subdivision
East Edgewood
Lot features
1/2 to 3/4 Acre, Level
Directions
From Macon Road Right On Forest Road , Right Reese Road And Left On Lamore Street
Standard status
Active
APN
086 016 024
Size
2,519 SF
Lot size
0.61 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), See Remarks (Heating)
Water source
Public
Building Details
Year built
1933
Number of units
4
Listing Agency:
Coldwell Banker / Kennon, Parker, Duncan & Davis · Coldwell Banker Real Estate
(706) 256-1000
Listed By:
Jeanne Martz · License #289010
(706) 587-2188
Added: May 27
Changed: Aug 2
Last Checked: Aug 24 at 4:06PM
MLS# 232073
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 renovated quadplex includes four distinct rental units. The main residence has two bedrooms and one bathroom. A duplex portion provides Unit A with one bedroom and one bathroom on the lower level and Unit B upstairs with a studio-style living space. The remaining completely renovated cottage offers one bedroom and one bathroom with contemporary finishes.
Set on a 0.61-acre lot, the property is served by public water and public sewer. Interior details include walk-in closet(s), and the home is equipped with a dishwasher, range, and refrigerator. Parking is available via a driveway, and heating is provided by electric systems.
The four units are currently occupied, supporting immediate rental availability following due diligence and contract acceptance.
Set on a 0.61-acre lot, the property is served by public water and public sewer. Interior details include walk-in closet(s), and the home is equipped with a dishwasher, range, and refrigerator. Parking is available via a driveway, and heating is provided by electric systems.
The four units are currently occupied, supporting immediate rental availability following due diligence and contract acceptance.
Key Highlights
- 0.61‑acre lot with public water and public sewer
- Renovated quadplex with four rental units currently occupied
- 2,519 SF quadplex built in 1933
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,208
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,160
$404.2K
Cap Rate 7%
$288,686
$288.7K
Cap Rate 9%
$224,533
$224.5K
Market Conditions
NOI Build-Up for 2,519 SF
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.
Gross rent
$39.3K $15.60/SF
− Vacancy
−$2.6K −$1.01/SF
EGI
$36.7K $14.59/SF
− OpEx
−$16.5K −$6.56/SF
NOI
$20.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$404,160
Cap Rate 7%
$288,686
Cap Rate 9%
$224,533
Alternative Uses
Best Use
Multifamily LT 5
$326.2K
$285.4K – $380.5K
NOI $22,832 @ 7.0% cap · market cap 9.93%
Second Best
Apartment 5plus
$288.7K
$252.6K – $336.8K
NOI $20,208 @ 7.0% cap · market cap 8.79%
Theoretical Best
Office A
$563.6K
$493.2K – $657.6K
NOI $39,454 @ 7.0% cap · market cap 17.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
158
Businesses Nearby
Explore this area
Business Placement
Demographics for 31907, GA
60,557
Population
25,710
Households
2.4
Avg Household Size
37
Median Age
23%
College-Educated
91%
High-School Grad
23.8 sq mi
ZIP Area
2,544
Density / Sq Mi
$52,620
Median Household Income
$33,726
Median Earnings
$1,103
Median Rent
$142,000
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?
Quadplex - Four occupied rental units on a 0.61-acre lot with public water and sewer, plus electric heat and updated interiors.
Where is this quadplex located?
The property is located at 911 Lamore Street Columbus, GA.
What is the asking price?
The asking price for this property is $230,000.
What are key features of this property?
This property features: 0.61‑acre lot with public water and public sewer; Renovated quadplex with four rental units currently occupied; 2,519 SF quadplex built in 1933
