10-Unit Multifamily | Value-Add Opportunity | 140 Prentice Pl
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10-Unit Multifamily | Value-Add Opportunity 140 Prentice Pl
10 Unit Block of Flats £457,293 (£45,729/Unit) Macon-Bibb, GA 31204
INVESTMENT HIGHLIGHTS
- Prentice Place consists of 10-units which are all one-bedroom/ one-bath.
- An investors value-add opportunity to renovate units and increase rents.
- Each unit has washer and dryer hookups.
- Prime location off Vineville Avenue with close proximity to downtown Macon & Mercer University.
- The building has two floors: six units on the 1st floor and four units on the 2nd floor.
- 140 Prentice Place offers a central location which provides easy access to all corridors of Macon.
EXECUTIVE SUMMARY
Accepting back up offers. Property is under contract.
With over 155k residents, Macon is the 4th-largest city in Georgia and is part of the Macon-Warner Robins CSA. Nicknamed “The Heart of Georgia,” Macon has numerous historical sites and museums and boasts strong education, healthcare, agriculture, and defense industries. Macon is a center of commerce and culture in central Georgia, and recent job growth (1.4%) and home price increase (2.6%) demonstrate the steady and constant growth of the market. Per “Sperling’s Best Places,” jobs are estimated to increase by 35% over the next 10 years.
With Mercer University, Middle Georgia State University, Wesleyan College, and more, all located within city limits, Macon is a hub of education in Central Georgia. Mercer, along with Georgia Tech, The University of Georgia, and Emory University, is one of the only schools in the state to earn a spot on U.S. News & World Report’s list of top National Universities. Healthcare is another strong suit of Macon. Navicent Medical Center is one of the top 10 hospitals in Georgia, according to the U.S. News & World Report, and has over 600 licensed beds. Across the Ocmulgee River from Downtown Macon, Coliseum Medical Center also offers over 300 beds. Despite its size, there is plenty to do in and around Macon. The Museum of Aviation at Robins Air Force Base is the largest tourist attraction in the state outside of Atlanta. The International Cherry Blossom Festival lasts 10 days each March and brings visitors from around the country to Macon to enjoy the 300,000 blossoms.
With over 155k residents, Macon is the 4th-largest city in Georgia and is part of the Macon-Warner Robins CSA. Nicknamed “The Heart of Georgia,” Macon has numerous historical sites and museums and boasts strong education, healthcare, agriculture, and defense industries. Macon is a center of commerce and culture in central Georgia, and recent job growth (1.4%) and home price increase (2.6%) demonstrate the steady and constant growth of the market. Per “Sperling’s Best Places,” jobs are estimated to increase by 35% over the next 10 years.
With Mercer University, Middle Georgia State University, Wesleyan College, and more, all located within city limits, Macon is a hub of education in Central Georgia. Mercer, along with Georgia Tech, The University of Georgia, and Emory University, is one of the only schools in the state to earn a spot on U.S. News & World Report’s list of top National Universities. Healthcare is another strong suit of Macon. Navicent Medical Center is one of the top 10 hospitals in Georgia, according to the U.S. News & World Report, and has over 600 licensed beds. Across the Ocmulgee River from Downtown Macon, Coliseum Medical Center also offers over 300 beds. Despite its size, there is plenty to do in and around Macon. The Museum of Aviation at Robins Air Force Base is the largest tourist attraction in the state outside of Atlanta. The International Cherry Blossom Festival lasts 10 days each March and brings visitors from around the country to Macon to enjoy the 300,000 blossoms.
DATA ROOM Click Here to Access
- Operating and Financials
- Title and Insurance
PROPERTY FACTS
| Price | £457,293 | Building Class | C |
| Price Per Unit | £45,729 | Lot Size | 0.45 AC |
| Sale Type | Investment | Building Size | 6,204 SF |
| No. Units | 10 | Average Occupancy | 90% |
| Property Type | Multifamily | Number of Floors | 2 |
| Property Subtype | Apartment | Year Built | 1979 |
| Apartment Style | Low Rise |
| Price | £457,293 |
| Price Per Unit | £45,729 |
| Sale Type | Investment |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.45 AC |
| Building Size | 6,204 SF |
| Average Occupancy | 90% |
| Number of Floors | 2 |
| Year Built | 1979 |
UNIT AMENITIES
- Washer/Dryer Hookup
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
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PROPERTY TAXES
| Parcel Number | N064-0239 | Improvements Assessment | £34,467 |
| Land Assessment | £37,578 | Total Assessment | £72,045 |
PROPERTY TAXES
Parcel Number
N064-0239
Land Assessment
£37,578
Improvements Assessment
£34,467
Total Assessment
£72,045
ZONING
| Zoning Code | R-3 (Residential) |
| R-3 (Residential) |
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10-Unit Multifamily | Value-Add Opportunity | 140 Prentice Pl
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