4770 Milgen Road
Property Description
NAI G2 Commercial Real Estate is pleased to present the Columbus 4 Portfolio for sale, a four-property, 148-unit multifamily portfolio located entirely within Columbus, Georgia. Offered at $10,400,000 ($70,270.27 per unit), this portfolio represents a rare opportunity to acquire a stabilized, income-producing multifamily portfolio in one of the Southeast’s most resilient and employer-anchored markets. The portfolio generated $745,488 in Net Operating Income in the most recent T12 on a current occupancy around 95%, reflecting a going-in cap rate of 7.17%. The four properties, Cooper Cove Apartments, Fox Run Townhomes, Sheffield Drive Apartments, and Talbotton Road Apartments, span four distinct Columbus neighborhoods, offering investors geographic diversification within a single metropolitan market. Each property benefits from the economic stability generated by Fort Moore (formerly Fort Benning), the largest single-site employer in the state of Georgia with a $5.6 billion annual economic impact, as well as major private-sector employers including Aflac, TSYS/Global Payments, Synovus Financial, Pratt & Whitney, and Piedmont Columbus Regional Healthcare. The portfolio is currently self-managed, presenting a clear path to operational improvement through professional third-party management. Current in-place rents across the portfolio average $800 per unit, meaningfully below comparable market rents in the Columbus area, offering a significant value-add opportunity through incremental rent growth with minimal capital expenditure required. With the rental comps in the area, a rental increase of over $100 to $200 per unit is achievable across the portfolio, giving the next owner a compelling value-add opportunity with minimal capital expenditures. Three of the four properties have received new roofs within the past several years, and multiple properties feature new HVACs and updated mechanical systems. Cooper Cove Apartments also presents a unique development opportunity through additional land and an unused building slab capable of supporting up to 12 new units across two new buildings, an upside not reflected in the current asking price.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $10,400,000 |
| No. of Units: | 148 |
| Opportunity Zone: | No |
| Price per unit: | $70,270 |
| Property Website | Click Here |
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