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Listed by Caleb Ross Canopy Realty Group
$4,145,000
Est. payment /mo
61,338 SqFt
Active
0 Douglas- 63 Door Portfolio #63 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 61,338 sqft
Price per Sqft $67
MLS Listing ID 153914
HOA Y/N No
Lot Size 27.800 Acres
Property Sub-Type Multi Unit
Property Description
Rare opportunity to acquire a 63-unit workforce housing portfolio located throughout Coffee County, Douglas Georgia with current annual rents at $442,236. The portfolio consists of 22 park-owned homes, 13 tenant-owned home lots, 9 single-family rentals, 4 duplexes, 1 triplex, and 2 quadplexes. 7 of the park-owned homes are located within a mobile home park along with 13 lot rents, with the remaining homes strategically dispersed throughout Douglas, providing diversification across multiple asset types and locations. The portfolio is currently 95.24% occupied and features tenant-paid utilities, individually metered electric service, 22 homes served by city water, 16 properties connected to city sewer, and private well/septic infrastructure throughout the remainder of the portfolio. Ownership has completed significant capital improvements, including 28 recently installed metal roofs. Current operations produce an approximate 8.0% cap rate at the asking price, with a projected 9.35% pro forma cap rate based on market rent levels. Current market rents are estimated at $46,125 per month, providing substantial upside through future rent growth while maintaining affordability within a strong workforce housing market. Additionally, 42 tenants are currently on month-to-month leases, creating an immediate opportunity for a new owner to implement rent adjustments and operational efficiencies, while the remaining tenants are secured under one-year lease agreements. This offering presents a unique opportunity to acquire scale, immediate cash flow, and long-term value-add potential in a market with limited affordable housing inventory. Detailed financials, rent roll, and property information available for qualified buyer.
Location
State GA
Area 11-Other
Zoning R, C
Interior
Interior Features Other
Heating Central, Other
Cooling Central Air, Electric, Other
Appliance Other
Exterior
Exterior Feature Other
Parking Features 3+ Cars, Other
Garage Spaces 3.0
View Y/N No
Roof Type Shingle,Metal
Garage No
Building
Story 1
Sewer Public Sewer, Septic Tank
Water Well, Public
Level or Stories One
Others
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