401 Lee St, Valdosta GA 31601 123625

  • Price275,000
  • StatusOff Market
  • Heated & Cooled4574
  • Lot Size0.64

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First-time offering on this unique historic multi-family property in quiet stable neighborhood on edge of downtown. Spacious (4574-sf), beautiful & well-maintained c.1899 Folk Victorian 2-story home converted to 7 apartments. In Local & National historic districts (renovation tax credits available). Six 1br/1ba units, one 2br/1ba. Some appliances included. Separate electric meters. Current rents average $432/mo = $3025/mo total, 100% occupancy is typical, minimal vacancy, stable rent roll, several tenants are long-term. Owner pays water-sewer & lawn. Multiple porches, plenty of nice shade trees, large 0.64-acre corner lot. Pedestrian-friendly location convenient to downtown, post office, govt. offices, shops, restaurants, etc. $36,300 gross less 35% expense/vacancy factor = 8.6% pro-forma cap at full price. See historical narrative attached by James Horton, City of Valdosta.
Listing Provided By FIRST COMMERCIAL REAL ESTATE

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    (229) 356-1380
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