Douglas- 58 Door Portfolio, Unit 63
Property Description
Rare opportunity to acquire a 58-unit workforce housing portfolio strategically located throughout Coffee County, including Douglas and Broxton, Georgia. The portfolio currently generates approximately $33,853 in monthly rental income (approximately $406,236 annually) and consists of 22 park-owned homes, 13 tenant-owned home lots, 4 single-family rentals, 4 duplexes, 1 triplex, and 2 quadplexes. Seven of the park-owned homes are located within a mobile home park alongside the 13 tenant-owned lot rentals, while the remaining assets are strategically dispersed throughout the market, providing diversification across multiple property types and locations. The portfolio is 96.6% occupied, with only two vacant units offering immediate lease-up opportunities. Many properties feature tenant-paid utilities and individually metered electric service, helping minimize operating expenses. The portfolio includes 22 homes served by city water, 16 properties connected to city sewer, with the remaining assets utilizing private well and septic systems. Ownership has invested heavily in the portfolio through extensive capital improvements, including 23 recently installed metal roofs, along with renovations across numerous units, resulting in minimal deferred maintenance throughout much of the portfolio. Current operations provide strong in-place cash flow with significant additional upside. Estimated market rents total approximately $46,125 per month, creating a clear path to increased revenue through lease-up of the vacant units and the gradual repositioning of below-market rents. Additionally, 42 tenants are currently on month-to-month leases, allowing a new owner to implement rent adjustments and operational improvements quickly, while the remaining tenants are secured under annual lease agreements. This offering presents a rare opportunity to acquire institutional-scale workforce housing in one of South Georgia's strongest affordable housing markets with immediate cash flow.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $4,145,000 |
| Lot Size: | 55,408.00 Sq ft |
| Opportunity Zone: | No |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-VMLSGA-153914
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