2229-2233 Ticknor Dr

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Address: 2229 Ticknor Dr, Columbus, GA 31903, USA
Created date: May 9, 2024
Date last updated: July 11, 2024
  • - 13,500 +/- SF building
  • - 16 units
  • - Two 8 unit buildings
  • - 1 building vacant (interior incomplete)
  • - Built in 1965
  • - Zoned C3 - Commercial Lots
  • - Located in Columbus Market area

Property Description

We have a 16-unit Apartment complex available in Columbus, GA priced at $825,000. This requires Proof of Funds and a signed NDA. The property is a temporary rental property. Tenants pay the seller on a weekly basis which makes the NOI variable. The property is a Mom-and-Pop business that doesn’t do any financial record keeping. This place provides temporary residency for tenants on a weekly basis. The seller only provided EXP Commercial & Carswell Commercial REI with a screen shot of the rent roll that we transferred over to the Offering Memorandum. EXP Commercial & Carswell Commercial REI make no claims or guarantees on the financials of this property and can’t verify the accuracy of the financial statements. The price has been adjusted on the second building in the listing price. Completion of the second building interior could double the gross rent and NOI. 1. 1st buildings is 88% occupied. Occupancy rates can change due to the temporary occupancy. The 2nd building (interior shell) is vacant and will need the interior completed. 2. The 2nd unit will need all electrical, plumbing (from slab upwards), flooring, drywall, appliances, etc. 3. All plumbing and electrical utilities in the vacant building will need to be connected from the road to the building. 4. The buyer may want to completely update the occupied units since they have not been updated. 5. In our opinion the second unit may cost approximately $25k-$30k per door or more to complete. 6. In our opinion it may be better for a Buyer to turn the temporary rentals into a six-months and gradually to yearly term rentals. 7. We suggest that all serious Buyers visit the property after showing proof of funds and signing an NDA.

Key Property Information

Listing Status: Available
Listing Type: Call for offers
Property Types: Apartment Buildings
Price: $825,000
No. of Units: 16
Average Occupancy: 5.89
Year Built: 1965
Lot Size: 0.48 Sq ft
Opportunity Zone: No
Price per unit: $51,563
Property Website Click Here
Address: 2229-2233 Ticknor Dr , Columbus, GA 31901, USA
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