635 ORANGE STREET

THE OPPORTUNITY

Matthews Real Estate Investment Services™ is proud to offer this 9-Unit Apartment Community locate at 635 Orange St, Macon, GA 31204. This is an opportunity to purchase a stable apartment community located near downtown Macon & The Medical Center. This offers an excellent opportunity for an investor to purchase a property with 24% rental upside conservatively to bring the stabilized cap rate up to 8.49%, with an in-place cap rate at 6.70%. This community benefits tremendously from its location as most of the tenants are nurses that work at the nearby hospital. Atrium Health Navicent, located at 777 Hemlock Street in Macon, has been actively expanding its facilities and services. Notably, in February 2022, they opened the Beverly Knight Olson Children’s Hospital, a dedicated pediatric facility designed to meet the growing demand for pediatric services in the region. Additionally, the Macon Volunteer Clinic, situated approximately 4.4 miles from 635 Orange St, is set to open a new facility in March 2025. This facility will offer comprehensive healthcare services, including dental care, primary healthcare, eye care, and mental health counseling.

PROPERTY HIGHLIGHTS

• 9-Units, Built in 1880/1960
• Interiors updated a few years ago
• Gross Building Square Footage: 6,950 SF
• Avg Unit: ±772 SF
• Consists of (7) 1 Bed/1 bath, (1) Two Bed/Two Bath, and (1) Three Bed/Two and a half Bath Units
• Avg Rent: $750 | Market Rent: $1,000
• 100% Occupied
• Lot Size: ±0.28 AC
• Density: 32 Units/AC
• APN: Q073-0305
• Central HVAC for all 9-Units
• Laundry Room in the basement – Free for tenants
• Roof was competed by Chris Mimbs Roofing on 10/14/2021
• The driveway was re-paved on 11/18/2021
• Individually Metered for Electric, Water/Sewer, & Gas
• Plumbing is a mix of PVC & Cast Iron. When they repaired or replaced the plumbing, they used PVC
• All wiring is Copper