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Details: Multifamily

Asking Price: $2,150,000

Square Feet: 21,586 SF

Asking Cap Rate: 6.79%

Year Built: 1991

NOI: $146,150

Seymour West

170 Westwood Drive, Thomson, GA 30824

  • 24 units in Thomson, Georgia (Augusta MSA)
  • This is a well-maintained property that offers immediate cash flow
  • This is the closet workforce housing to the 2.8 Million SF Amazon Fulfillment Center in Appling that employs over 3,000 people
  • Owners recently invested over $20,000 to remove trees, fix gutters and clean up property
  • Bring rents up to market. The current average rents are $700, which is 16% below the $825 average market rents.
  • The landlord currently pays for water and trash. As leases renew, switch to tenants paying for water and trash. This could bring an additional $18,000 per year with tenants paying $50/month for water and $15/month for trash
  • Add washer and dryers to each unit. There are washer/dryer hookups in each unit but no washer/dryer
  • Convert the laundry room into rental unit

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