816 Baytree Dr Valdosta, GA 31601

Property Details for 816 Baytree Dr

Property size

33,305 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of 33 single-family rental units, comprising 29 single-family homes and two duplexes. Located primarily in Valdosta, Georgia (with two units in Adel, GA), this stabilized portfolio boasts a 94% occupancy rate as of May 23, 2024, generating a current monthly gross rent of $27,320. The portfolio's total square footage is 33,305, priced at $71.91 per square foot, significantly below replacement cost. The properties are strategically located throughout Valdosta, offering proximity to employment centers, schools, and entertainment venues. Addresses include, but are not limited to, Baytree Dr, N Troup St, Sustella Ave, Green St, E Brookwood Dr, E Brookwood Pl, Vallotton Dr, E Ann St, Lausanne Dr, Stillwater Dr, Ponderosa Dr, E Force St, N Lee St, Lexington Cir, Charter Oaks Dr, Iola Dr, Fallingleaf Ln, Deborah Dr, and Frederick Pl in Valdosta, and Wayne St and W 7th St in Adel. All units are served by city utilities, with tenant direct billing. Professional property management is currently in place. The portfolio offers a current cap rate of 7.56% and a pro-forma cap rate of 8.62%, with a pro-forma NOI of $206,539. The asking price is $2,395,000, representing a price per unit of $72,575.76. Seller financing may be available for a portion of the purchase price, subject to negotiation. A complete rent roll is available upon request for qualified buyers. This is a value-add opportunity with potential for rent increases.