216 Greene St, Augusta, GA, 30901

Highlights

• Charming historic building built in 1911
• Zoned R-3B for multifamily use
• Prime location in Olde Town area
• 6 units for potential tenants
• 3,340 SF of versatile interior space
• Original architectural details and character
• Potential for value-add improvements
• Close proximity to amenities and transportation
• Excellent investment opportunity

Description

216 Greene Street is YOUR next multi-family investment opportunity in downtown Augusta. Nestled in the Olde Town neighborhood, this six-unit property presents a chance for you to capitalize on the growth in the downtown area and capitalize on the value-add opportunity and allowing for convenience, accessibility and endless potential for both tenants and owner.
Positioned on the 200 block of Greene Street, this property is on a large double lot allowing for space for tenants, plenty of parking and more. Currently, there is one fully furnished unit in the back that is a 1 bed and 1 bath unit, that has a long-term tenant that is on a mtm lease at $1,100/month, providing immediate income for savvy investors. (Please DO NOT disturb the tenant). There are 5 additional units in the property with 4 studios of varying size and an additional 1-bedroom unit. The main house has shared laundry, and the back furnished unit has its own laundry. Three of the 5 units are ready for their next tenant. Two of the units could use some basic updating, the front unit needs the bathroom to be finished but this large studio is full of historic charm and your tenants will love spending time on the large front porch.
The property is metered separately for each unit and an additional meter for the common spaces. There is 1 water meter for all units. Over the years the current owner has done various updates, but he is ready to move on and sell this as-is to its next investor.
With the large lot, there are many possibilities, with ample space for expansion or additional amenities. There is plenty of parking for your tenants. Currently, Greene Street is in the midst of a HUGE project with new sidewalks, resurfacing of the road, gutters and more. Don’t let these updates to the area stop you from checking out this property. Whether you're an experienced investor looking to expand your portfolio or a newcomer eager to enter the lucrative world of real estate, this property offers endless possibilities. With vacancies ready to be filled and the flexibility to customize units to meet market demand, the potential for increased cash flow and long-term appreciation is unmatched.

Located on the 200 block of Greene Street in Olde Town. From Calhoun Expressway, continue down Greene Street. There is some construction happening along Greene as you head into Olde Town, signs may send you on a detour down Telfair or Ellis, but at Third Street, you are able to get back onto Greene Street.

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