2229 Ticknor DrColumbus, GA 31903

Property Details for 2229 Ticknor Dr

Year built

1965

Construction

WOOD

Lot size

0.24 AC

Property size (Sq ft)

3,240 SF

Property type

Commercial real estate

APN

062 025 010

APU

62025010

Description

This Columbus, Georgia multifamily property presents a compelling investment opportunity. Priced at $745,000, this 16-unit apartment complex comprises two buildings on a 0.48-acre lot. One building features eight finished two-bedroom, one-bathroom units, while the second building offers eight unfinished (shell) units. The property, built in 1965, is zoned C3 and boasts 13,500 square feet across two two-story buildings. Conveniently located near major roadways, including I-185 (less than 1.5 miles), and surrounded by amenities such as the Holiday Inn Express, shopping centers, and restaurants, this property benefits from high visibility and accessibility. Currently operating as a weekly rental, the property offers significant upside potential through renovations and conversion to longer-term leases. The unfinished building requires completion of electrical, plumbing, drywall, flooring, and appliance installation. The existing units are individually metered for electricity, while water is on a single meter. The property features 13 asphalt parking spaces. The construction is wood framing with brick exterior siding and concrete slab foundations. While financial records are limited, the property is being sold based on a valuation considering the finished and unfinished units separately. This presents a value-add opportunity for investors with construction expertise and a plan to increase occupancy and rental rates. The property's location and potential for significant improvements make it an attractive investment prospect.

• CAP approach

  CAP return

  Valuation

  6%

  $467,056

  6.5%

  $431,129

  7%

  $400,334

• Comparable approach

  Method

  Valuation

  Relative Method

  $631,994

  Geo Method

  $631,994

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $906,440

  Retail / Commercial

  $453,533

  Mixed-Use / Specialty

  $443,023

  Hospitality / Lodging

  $313,454

  Office

  $431,129

  Institutional / Educational

  $457,387

  Residential Income

  $535,143

  Multifamily

  $691,122

  Automotive / Energy

  $392,046

  Parking / Income-Based Land

  $144,076

  Restaurant / Food Service

  $211,441

  Healthcare / Senior Housing

  $463,432

Location Insight

City

Columbus

County

Muscogee

State

Georgia

Latitude

32.4119

Longitude

-84.9434

CBSA code

17980

CBSA name

COLUMBUS, GA-AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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