4100 Mulligan Manor LnValdosta, GA 31605

Property Details for 4100 Mulligan Manor Ln

Year built

2013

Lot size

2.88 AC

Property size (Sq ft)

28,468 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents Hangar 22, an eleven-building, twenty-two-unit apartment complex situated on a 2.88-acre lot in Valdosta, Georgia. Built in 2013, this Class A property boasts 28,468 square feet of net rentable space, currently achieving 100% occupancy. Each unit is a three-bedroom, two-bathroom duplex, featuring modern amenities such as canned lighting, subway tile backsplashes, real wood cabinets, and stainless steel appliances including a refrigerator, range with micro-hood, dishwasher, and washer/dryer hookups. The units also include carpet, tile, and stained concrete flooring, walk-in closets, and private front and back porches. All units are ADA compliant, featuring wide doors, hallways, and roll-in showers. The property offers three parking spaces per unit and is zoned P-D. Currently generating a NOI of $231,000 and a 7.45% cap rate, this stabilized investment presents a value-add opportunity with potential for rent increases. The property's prime location in Lowndes County, near Moody Air Force Base, ensures high demand and consistent occupancy. The asking price is $3,100,000, translating to $140,909 per unit and $108.89 per square foot. This turnkey property offers significant potential for future growth and strong returns. The property's location provides easy access to jobs, schools, entertainment, recreation, shopping, and dining.

Location Insight

City

Valdosta

County

Lowndes

State

Georgia

Latitude

30.9236

Longitude

-83.2529

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