107 Pa Johns Rd Milledgeville, GA 31061
- Commercial real estate
- 75,017 SF
Current Use by Public Records
- Hidden Cove Apartments / Apartment Building
- Burdette Building & Home Maintenance / Construction Company / Remodeler
Property Details for 107 Pa Johns Rd
- Year built
- 1973
- Property size
- 75,017 SF
- Property type
- Commercial real estate
- APN
- 087
Description
This exceptional 59-unit apartment building, located at 107 P A Johns Rd, Milledgeville, GA 31061, presents a compelling investment opportunity. The property, built in 1973, boasts a total of 75,017 square feet situated on a 6.42-acre lot, offering a density of 9 units per acre. The complex comprises 40 two-bedroom, two-and-a-half-bathroom units and 19 three-bedroom, two-and-a-half-bathroom units, averaging 1,253 square feet each. Current average rent is $1,122 per month, while market average rents stand at $1,240, indicating potential for increased revenue. The property features energy-efficient townhomes and desirable amenities including a tennis court, swimming pool, and picnic area. Significant capital expenditures totaling $500,000 have been invested over the past three years, including HVAC unit replacements as needed and unit upgrades during turnover over the past five years. The asking price is $6,100,000, representing $103,390 per unit and $81 per square foot. The current tax-adjusted cap rate is 7.44%, with a market-stabilized cap rate of 8.69%. This well-maintained property offers a strong return on investment with significant upside potential in a desirable location. APN: 087.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Milledgeville
- County
- Baldwin
- State
- Georgia
- Longitude
- -83.2165999
- Latitude
- 33.1360863
