6
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Listed by Caleb Ross Canopy Realty Group
$678,000
Est. payment /mo
13 Beds
6 Baths
8,500 SqFt
Active
1303 N Pearl Ave - 8 Home Portfolio #8 Douglas, GA 31533
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Key Details
Property Type Multi-Family
Sub Type Multi Unit
Listing Status Active
Purchase Type For Sale
Square Footage 8,500 sqft
Price per Sqft $79
MLS Listing ID 153880
Bedrooms 13
HOA Y/N No
Lot Size 2.045 Acres
Property Sub-Type Multi Unit
Property Description
This 8-unit residential portfolio consists of six single-family homes and two mobile homes located throughout Douglas, GA, including properties on N. Pearl Street, Edgewood Avenue, Green Avenue, Poplar Street, North Street, West Baker Highway, and Lacey Avenue. The portfolio features a diverse unit mix of one 4BR/2BA, two 4BR/1BA, one 3BR/2BA, two 3BR/1BA, one 2BR/2BA, and one 2BR/1BA. Currently generating approximately $67,200 in annual gross income, rents average $700 per month, while market rents support an average of approximately $881 per month, providing significant upside through rent growth. Recent improvements include five new metal roofs, and seven of the eight units feature central heating and air conditioning. All properties are served by city water and sewer, with tenants paying their own utilities, helping keep operating expenses low. Offered at $678,000, the portfolio presents a compelling value-add opportunity with a projected 8.73% pro forma cap rate based on market rents and a conservative 30% expense ratio. The current tenant mix includes four month-to-month leases and four annual leases, providing both stable cash flow and the ability to capture rental upside in the near term. With strong in-place income, recent capital improvements, and substantial rental upside, this portfolio offers investors an opportunity to acquire immediate scale in one of South Georgia's strongest workforce housing markets. Tenant Occupied, do not approach or disturb tenants. Interior showings allowed only when under contract during DDP.
Location
State GA
Area 11-Other
Zoning R
Interior
Interior Features Other
Heating Central, None
Cooling Central Air, Wall/Window Unit(s)
Appliance Other
Exterior
Exterior Feature None
Parking Features 3+ Cars
Garage Spaces 3.0
View Y/N No
Roof Type Metal
Garage No
Building
Story 1
Sewer Public Sewer
Water Public
Level or Stories One
Others
Virtual Tour https://tour.usamls.net/1303-N-Pearl-Ave-8-Home-Portfolio-Douglas-GA-31533/unbranded
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