2564 Lumpkin Road, Augusta, GA

Multi-family for Sale - $2,950,000 - 65,850 Sq. Ft. on 3.2 acres

Sherman & Hemstreet Real Estate Comp

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Agent Info

NameJoe Edge
CompanySherman & Hemstreet Real Estate Comp

Property Info

CIMLS #953421
Location2564 Lumpkin Road
Augusta GA 30906
Last UpdatedJune 5th, 2018
TypeMulti-family
Price$2,950,000
Building65,850 Sq. Ft.
Land3.2 acres
DemographicsView data

Contact


Property Description

Great opportunity to buy an apartment complex in Augusta, GA. Property has tons of upside. Rents are currently below market. Current owner is a lender who foreclosed on the property a few years ago and has put cash flows back into renovating property the majority of which has been completed. Units are in good shape and property is fully occupied. Its time to raise rental rates. Assumable loan that was just placed on the property to make it easier for a buyer to step in.

Location Description:

Excellent location in growing Augusta, GA home to Fort Gordon and the Army Cyber Command. Location is off of Lumpkin Road between Deans Bridge and Peach Orchard Roads both of which are major thoroughfares. Site is also located in close proximity to the interstate (I:520).

Highlights:

>> Growing Area

>> High Traffic Location

>> Upside in Rents which are below market

>> Assumable First Mortgage

>> Great Unit Mix

>> High Occupancy

>> Strong Management In Place

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