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Cross Keys Apartments

Status: Sold

The Cross Keys Apartments represents an excellent value-add multifamily investment opportunity located in Columbus, GA. The subject property consists of 40 1BR/1BA units housed in 2 garden-style, two-story walk up buildings with brick exterior facades. HUD’s fiscal year 2023 Small Area Fair Market Rents (SAFMRs) of $670 per month for 1BR units in the subject property zip code (31903) presents significant upside potential for the value add investor. Current ownership has implemented across the board rental increases of between $100-$200 per unit per month on an as-is (non-renovated)

40 basis, resulting in average monthly rental of $539.17 per unit. Renovation and/or updates of the subject property presents

the value add investor with an excellent opportunity to realize increased potential rents and occupancy.

TESTIMONIALS

"23 Realty Advisors represented us in the sale of a four-property multifamily portfolio consisting of 966 units. We couldn't have been happier with our choice, as Kory and his team helped us navigate the sale through the challenges of the COVID-19 pandemic. His background as a former commercial real estate attorney was extremely valuable and brought a level of knowledge and expertise we couldn't have found in your typical broker and ultimately got us closed during unprecedented financial and economic upheavals."

Craig Stansberry
Stansberry Management

"I've worked with Kory and his team at 23 Realty Advisors for years. Whenever I've got a deal that needs to be done, and done right, they're the first people I call. They always get it done for me."

David Akeman
Stride Bank

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