16 door investment opportunity in Fitzgerald, GA. Offering consists of Two all brick buildings, eight 2br/1ba, and eight 1br/1ba apartments currently at 94% occupancy. 1 br units rent for $600 mo and 2 br units rent for $650. Recent updates to interior and exterior include new exterior paint, new windows, new HVAC units in all units. Some Interior units have been renovated as they are turned. All units have individually metered utilities. Asking price cap rate of 8.66% based on a gross effective rent of $120,000 a year with 35% OPEX. Located 0.5 miles from downtown Fitzgerald, GA.
Fitzgerald is located in Georgia. Fitzgerald, Georgia has a population of 9,028. Fitzgerald is less family-centric than the surrounding county with 16.47% of the households containing married families with children. The county average for households married with children is 19.42%.
The median household income in Fitzgerald, Georgia is $30,268. The median household income for the surrounding county is $34,455 compared to the national median of $69,021. The median age of people living in Fitzgerald is 35.2 years.
The average high temperature in July is 91.8 degrees, with an average low temperature in January of 36.4 degrees. The average rainfall is approximately 46 inches per year, with 0 inches of snow per year.
