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Listed by Jon Bollinger THE HERNDON COMPANY
$965,000
Est. payment /mo
9,248 SqFt
Pending
149 W Main #8 Lakeland, GA 31635
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Key Details
Property Type Multi-Family
Sub Type Multi Unit
Listing Status Pending
Purchase Type For Sale
Square Footage 9,248 sqft
Price per Sqft $104
MLS Listing ID 153314
HOA Y/N No
Year Built 2006
Lot Size 0.500 Acres
Lot Dimensions .5 Acres
Property Sub-Type Multi Unit
Property Description
Signature Condos is a well-maintained 8-unit townhome-style multifamily property offering strong in-place income and proven rental performance. Built in 2006 and recently upgraded with a new roof in 2025, this asset provides investors with a stable, low-maintenance opportunity in a growing South Georgia market. Each unit features a spacious two-story layout with 2 bedrooms and 2.5 bathrooms across approximately 1,156 square feet. Units include a full kitchen equipped with stove, refrigerator, dishwasher, and microwave, along with a comfortable living area, dedicated laundry room with washer/dryer connections, central heat and air, and private storage space. The townhome-style design continues to perform well with tenants, contributing to consistently high occupancy and minimal vacancy history. The property is currently 100% occupied with a strong rent roll totaling $8,390 per month ($100,680 annually), with four units at $1,100, one at $1,050, and three at $980. Using a 30% operating expense ratio, the property generates an estimated Net Operating Income (NOI) of approximately $70,476. At the current asking price, this positions the asset at an attractive cap rate for the market, with immediate cash flow in place. Located in Lakeland, Georgia, just minutes from Moody Air Force Base, the property benefits from steady rental demand driven by military and supporting workforce housing needs. The combination of strong occupancy, recent capital improvements, and clear path to increased revenue makes Signature Condos a compelling investment opportunity.
Location
State GA
Area 10-Lanier County
Zoning AU
Interior
Interior Features Insulated, Ceiling Fan(s)
Heating Central
Cooling Central Air
Flooring Carpet, Tile, Luxury Vinyl
Appliance Refrigerator, Electric Range, Microwave, Dishwasher
Exterior
Exterior Feature None
Parking Features Other
View Y/N No
Roof Type Shingle
Garage No
Building
Story 2
Foundation Slab
Sewer Public Sewer
Water Public
Level or Stories Two
Others
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