PROPERTY DETAILS

   Back

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

"After getting no results with two prior brokerage firms, we selected 23 Realty Advisors to represent our company in the sale of a grocery-anchored shopping center. Within a few of months our property was under contract and closed at sale price higher than we anticipated. Many thanks to 23 Realty Advisors for getting us the results other brokerage firms could not."

Mike Merchant
Merchant Commercial Properties

"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

SUBSCRIBE

Get property listings straight to your inbox