1941 Karen Cir Milledgeville, GA 31061

Property Details for 1941 Karen Cir

Year built

1984

Property type

Commercial real estate

APN

M91 047, M91 053, M91 054, M91 060, M91 061, M91 106, M91 107, M91 108, M91 109, M91 110, M91 112, M91 127, M91 136, M91 137, M91 138

Description

Deer Creek Apartments presents a compelling value-add investment opportunity in Milledgeville, Georgia. This 44-unit apartment community, comprised of 19 buildings situated on individually parceled land, offers a unique blend of potential and existing value. Built between 1984 and 2001, the property boasts 44,886 square feet of net rentable space with a current occupancy rate of 91%. The units, averaging 1,020 square feet, include a mix of one, two, and three-bedroom floor plans. A significant value-add opportunity exists with 21 units (48%) retaining original interiors, allowing for rental premiums of $125 to $175 per unit compared to renovated units. The property features 92 parking spaces and individually metered utilities, minimizing operating expenses. Its prime location near major retailers like Publix, Kroger, and Walmart, along with proximity to Navicent Health Oconee, Qarbon Aerospace, Georgia College & State University, and Georgia Military College, ensures strong tenant demand. The individual parceling of buildings provides flexibility for future development or disposition strategies. This property offers a rare combination of immediate income and significant upside potential. The APN numbers are M91 047, M91 053, M91 054, M91 060, M91 061, M91 106, M91 107, M91 108, M91 109, M91 110, M91 112, M91 127, M91 136, M91 137, and M91 138. The property is located at 1941 Karen Cir, Milledgeville, GA 31061.