5640 Cyanamid
- Value Add Opportunities
- 100% Occupancy
- Well-Maintained 16-Unit Apartment Complex
- Current AVG Rent $950 per month
- Below Reported Milton AVG Apt rent for 2-BD $1,005 - $1356 per month
- Potential for Measured RENT GROWTH
- Potential to Add Approximately 49 Additional Units - for added income stream
- Additional 0.852-Acre HCD-Zoned Hard Corner
- Potential to Retain, Develop, or Sell the Commercial Corner
Property Description
Located at the signalized northwest corner of Avalon Boulevard and Cyanamid Road, this 4.502-acre assemblage consists of three contiguous parcels with excellent visibility and approximately 33,000 vehicles passing daily. The primary 3.65-acre parcel is improved with two two-story apartment buildings totaling approximately 15,680 square feet of rentable area. Together, the buildings contain 16 two-bedroom, one-bath residences, each with a private entrance, dedicated balcony or rear porch, and access to ample on-site parking. The well-maintained units feature sliding glass doors, ceiling fans, microwaves, oven/ranges, and a functional mix of carpet and tile flooring. Under the current utility structure, ownership has traditionally paid for water and sewer, while tenants are responsible for their individual electric service. The property generated approximately $175,000 in gross income during 2025. Property-specific taxes and utilities totaled approximately $25,384. The 16-unit apartment complex is operating at 100% occupancy, demonstrating consistent demand, while current rents average approximately $950 per month which is below the reported Milton market range of approximately $1,005 to $1,356 per month for a two-bedroom apartment. This rent differential may provide an opportunity to increase income over time through measured rent adjustments and continued property improvements. The 3.65-acre R-3 parcel may also support up to approximately 49 additional dwelling units based on the stated maximum density of 18 units per acre, subject to site planning, infrastructure, development standards, and governmental approvals. (R-3 zoning may allow for approximately 49 additional dwelling units based on stated density, subject to site planning and governmental approvals).
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $2,600,000 |
| No. of Units: | 16 |
| Lot Size: | 4.60 Acres |
| Opportunity Zone: | No |
| Price per unit: | $162,500 |
| Property Website | Click Here |
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