Magnolia Square – 57 Units

Waterstone Multi-Housing Advisors is pleased to present Magnolia Square; a 56 unit complex with an office/manager’s unit totaling 57 units located in Valdosta, Georgia. This property consists of 6, 2-story buildings located on a 2.67-acre parcel that was built in 1987 and has seen a number of renovations and improvements. New roofs on some buildings were installed and HVAC units were replaced as needed. There are 28 one bed/one bath units averaging +/- 650 square feet per unit and 28 studio/one bath units averaging +/- 550 square feet The tenants pay all utilities, washer/dryer (if provided), pest control, and renter’s insurance. All units are individually metered for water and electric with separate HVAC and hot water heaters.  With historic high occupancy and very few past rent increases, the property is very well positioned to be upgraded and rental increases implemented.

Magnolia is located almost in the central business district and is walkable to almost every convenience. Valdosta has a population of about 55,567 people. The population has grown approximately 2.4% since 2010. Valdosta is known as “Azalea City” for the colorful azaleas that thrive in the area and also “Winnersville” for the championship sports teams at the local high school and local colleges.  With Valdosta State University (enrollment of 12,000) and Wiregrass Georgia Technical college located there and a thriving business sector, Valdosta has a lot to offer.  Also, just outside of Valdosta (approximately 10 miles) sits Moody Air Force Base home of the Air Combat Command.  The 23^rd Wing is home of the world famous “Flying Tigers”, Combat Search and Rescue, and the Security Forces Warriors.  With major employers being the University, South Georgia Medical, Military, Distribution, and the local school system, Valdosta isn’t completely immune from economic instability but is extremely well insulated.

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