1197 Melody Lane & Joree Street, Valdosta GA 31601 128384

  • Price775,000
  • StatusOff Market
  • Bedrooms0
  • Full Bathrooms0
  • Heated & Cooled12996
  • Lot Size0.89

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14 door investment over two adjacent properties in central Valdosta location. Great rental history and strong market demand as part of the Stone Creek Apartment community - 1197 Melody Lane - Ten 2BR/1.5BA units all under one roof with the same townhome footprint - bedrooms and bathroom upstairs and LR, kitchen and half bath down. Next door is 1198 Joree Street - 4-plex of 1BR/1BA large 792 sf flat units. Regularly at 100% occupancy, close to VSU (11,500 enrollment), shopping, jobs, retail, entertainment, restaurants etc all around. Many long term residents on month to month leases / expiration dates approaching allow buyer to bump rents to market rates immediately OR just over time as units turn. 8.59% proforma cap rate with $695/mo market rents for the 2/1.5s and $575 on 1/1s; 40% operating expense factor. Rent Roll available, each can be bought separately See MLS #
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  • Wendy Woodruff licensed REALTOR Valdosta Georgia and Florida homes

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    (229) 356-1380
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