442 Old Buena Vista Rd Columbus, GA 31906

This exceptional value-add multifamily investment opportunity, The Belle Vue Court Apartments, is located in Columbus, Georgia. The property consists of five single-story, brick garden-style buildings situated on approximately 1.61 acres. Comprising 32 units, each a two-bedroom, one-bathroom apartment averaging 622 square feet, the property boasts a total of 19,914 square feet. Recently renovated in 2024, with approximately $130,000 in capital expenditures and property updates completed by the owner in 2023/2024, the property offers significant upside potential. Currently, the property enjoys 100% occupancy (as of September 1, 2024), with average rents of $617 per unit. However, the HUD 2025 advisory rent for the 31906 zip code is $930 per month (effective January 1, 2025), indicating substantial room for rent increases. This presents a compelling opportunity to leverage the significant rent growth potential in the area. The property's low cost basis of under $50,000 per unit, combined with a pro-forma cap rate of 13.02% and a pro-forma NOI of $208,222, makes this a highly attractive investment. The asking price is $1,599,000. The property is zoned GC and features a fee simple ownership structure. Parcel numbers are 065 010 006