1509 Pine Street
Valdosta
31601
About this property
Waterstone Multi-Housing Advisors is pleased to present Willow Trace Apartments; a 32 unit garden style property, built in 1984, located in Valdosta, GA. This property has 8 buildings with units that consist of 4 – Two Bedroom /One Bath, 24 – Two Bedroom/One and a Half Bathroom and 4 – Three Bedroom/One and a Half Bathroom Units. The units are also extremely attractive size at 1,063 avg SF. These units are separately metered as tenants pay for their own water, electric & trash.
Valdosta, located in the far southern portion of the state, near the Florida line along the Interstate 75 corridor, is a commercial center of South Georgia with numerous manufacturing plants. The surrounding area produces tobacco, naval stores, particularly turpentine, as well as pine lumber and pulpwood. Valdosta is called the “Naval Stores Capital of the World” because it supplies 80% of the world demand for naval stores. Moody Air Force Base is located about 10 miles northeast of Valdosta.
This is a value-add opportunity giving an investor the opportunity to acquire a well maintained, stabilized property with average rents well below market. New ownership will have the opportunity to reduce bad debt, loss to lease & concessions to organically increase the gross income.
Investment Highlights:
- Rental income below market average – $100-200/unit
- Underwriting adjusted for Taxes and Insurance
- Stabilized property above 90% occupancy
- Attractive unit size at 1,063 avg SF
- Good location with easy access to retail and shopping centers
Amenities and Features
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