Midtown Point Apartments

1927 Central Ave Augusta, GA 30904

1927 Central Ave, Augusta, GA, 30904
1927 Central Ave, Augusta, GA, 30904
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$1,400,000
Last Verified:
Dec 16, 2019


Description

28 Unit Apartment Complex and single family house adjacent to property along Central Avenue. Units are 2BR 1BA Most "C" class apartments in this area are selling for 50-60k per unit. Property has had significant capital improvements over the last few years. All rents are significantly lower than competition in the market. New rents are $750. New management is in place and goal is to have all rents at $750 by the end of 2020. Rents will increase to $850-$900 by end of 2021 to 2022.

Minutes away from Augusta University, Medical College of Georgia, the Dental College of Georgia at Augusta University, University Hospital, Paine College and much more. This is one of the hottest housing markets in the region with significant demand. Most "C" class apartments in this area are selling for 50-60k per unit.

Building Size: 22776.0sq ft
Lot Size: 1.39 acres

Map of 1927 Central Ave, Augusta, GA, 30904

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.