100 Jefferson St, Albany, GA 31701

Property Details for 100 Jefferson St

Year built

1970

Lot size

0.61 lot acres

Property type

Commercial real estate

APN

0S301/00006/01A and 0S301/00006/001

Description

This exceptional investment opportunity presents a 21-unit apartment building located at 100 S Jefferson St, Albany, GA 31701. The property, boasting a 100% occupancy rate as of August 12, 2024, comprises two 3-story buildings totaling 15,819 square feet of space, with 15,891 square feet of net rentable area. The property features a mix of studio, one-bedroom, and two-bedroom units, offering a diverse rental portfolio. Built in 1970 and renovated in 2022, the Jefferson Apartments benefit from an assumable loan at a 5% interest rate, amortized over 25 years, with a current balance of $988,000. The monthly principal, interest, and property tax payment is $6,844. The property sits on a 0.61-acre lot and includes 25 parking spaces. Conveniently located in downtown Albany, near Albany State University and major employers like Proctor & Gamble, Miller Coors, and Mars Chocolate, the property enjoys a prime location surrounded by national retailers and services. On-site amenities include a laundry room and an expansive courtyard. The property is zoned C2 and has a current NOI of $148,987, with a pro-forma NOI of $175,000, resulting in a cap rate of 8.89% and a pro-forma cap rate of 10.45%. The asking price is $1,675,000, or $79,761.90 per unit. A $50,000 discount is offered for cash closings completed within 25 days. The property's strong performance and favorable location make it an attractive investment opportunity. Tax Parcel Information: Parcel: 05301-00006-01A and Parcel 05301-00006-001.

Location Insight

City

Albany

County

Dougherty

State

Georgia

Longitude

-84.1557342

Latitude

31.5765443