$745,000
2229 Ticknor Dr Columbus, GA 31901
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Listed by Derrick Carswell • eXp Commercial
$745,000
Est. payment /mo
0.48 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Listing Status Under Contract
Purchase Type For Sale
Subdivision 2229-2233 Ticknor Dr
MLS Listing ID 10313109
Construction Status Resale
Year Built 1965
Annual Tax Amount $226,446
Tax Year 2024
Lot Size 0.480 Acres
Property Description
Ticknor Place is a multifamily investor's dream flip opportunity. 2229-2233 Ticknor Place is a 16-unit apartment complex consisting of two-eight-unit buildings on a half-acre. Ticknor Place is perfectly located close to Holiday Inn Express, Traffic Circle Plaza Shopping Center, Papa Johns, Walmart, Valley Health Care System, and Candlewood Suites. Located within 400 feet of the newly resurfaced Martha Berry Hwy, you are just a few feet away from shopping centers, restaurants and less than 1.5 miles to I-185. Ticknor Place is a 16-unit two-bedroom one-bathroom complex. The 8 units at 2229 Ticknor Place are finished units. The 8 interior units at 2233 Ticknor Place are unfinished (shell interior), showing the upper and lower levels studs. The exterior portion of 2233 Ticknor is completed. These properties are next to each other on the two lots and are sold together. Ticknor Place has been operating as a weekly temporary residency. Occupancy rates can change due to this temporary occupancy. The 2nd building (interior shell) is vacant and will need the interior completed. 2233 Ticknor will need all electrical, plumbing (from slab upwards), flooring, drywall, appliances, etc, to complete the interior portion of this building. We are seeking buyers who are looking for a Value Ad & to turn the temporary rentals into six-month rentals and then gradually to permanent yearly term rentals. In comparison to all the metro cities in Georgia and Florida, there are no 16-unit two-story apartment complexes available for under $1,00,000. 2229 & 2233 Ticknor Dr. Columbus, Georgia gives a multifamily investor, with the cash flow and a construction team, the 400-yard advantage over all other types of investors who lack such resources. A team that can complete the interior shell of 2233 Ticknor Dr and renovate the occupied building (2229 Ticknor) in 2-3 months, while pre-leasing units, could be at 80-90% occupancy within twelve months of the purchase date. If you have the cash flow, team, and proven multifamily construction track record, contact Derrick or Ty. The property is a mom-and-pop business that doesn't do any financial record keeping. This place provides temporary residency for tenants weekly. The seller only provided EXP Commercial & Carswell Commercial REI with a screenshot of the rent roll we transferred to the Offering Memorandum. EXP Commercial & Carswell Commercial REI make no claims or guarantees on the financials of this property and can't verify the accuracy of the financial statements. Completing the second building's interior could increase the value of this property. Although this property has weekly rentals, it's being sold based on the following 8 units at $58k per finished unit ($504k) and 8 units at $30k per unfinished unit ($240k) and off of the suggested property value. Parking Description 13 Park Spaces Asphalt and Parking Slab Utility Description Each apartment has separate electric meters. Water is on one meter. The complex doesn't use natural gas. Construction Description Wood Framing, brick exterior siding, concrete slab. *Note: This Offering Memorandum dated 10/3/2024 is the official OM. All other offering memorandum pre 10/3/2024 shall be discarded. This memorandum can be updated without notice. Please contact listing agent for updates or any questions pertaining to the listing.
Location
State GA
County Muscogee
Zoning C3
Interior
Heating Central
Cooling Central Air
Exterior
Garage Parking Lot
Utilities Available Electricity Available
Building
Sewer Public Sewer
Construction Status Resale
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