Pointe South is pleased to offer Art Center Apartments located in Moultrie, GA. This 40-unit apartment consists of (8) 1/1's, (24) 2/1's, (8) 2/2's. Tenants appreciate and enjoy the quiet residential neighborhood while still being conveniently located walking distance away from the Downtown Moultrie Shopping and Dining District schools and fine arts.
This is an opportunity for an investor to purchase a property and continue the value-add strategy that is currently being implemented onsite. This asset has recently undergone over $600k of capex; 20 out of 40 units have been worked on, and several units have not been touched at all.
There is also an opportunity to assume the current loan with a very attractive interest rate at 3.96%, which began in 2021 with a 5-year term, roughly 2 + years left.
Art Center sits $300+ below top-of-market rent of nearby multifamily assets allowing new ownership to increase NOI through rent increases as well implementing a RUBS system currently not in place.
The asset will benefit tremendously from the onboarding of a professional management company as it is currently self-managed with limited to no systems in place.
Area Overview
Home to Sanderson Farms, Maule Air, National Beef, Universal Forest Products, Nutrien Ag Solutions, Ice House America, Cavco Industries, Philadelphia College of Osteopathic Medicine, and more, Colquitt County is well-positioned for continued growth.
With a population projected to exceed 50,000 in the 2020 U.S. Census, consumer demand continues to climb for retail, commercial, and housing developments.
Moultrie is strategically located to provide service to the entire Southeastern United States, with an excellent transportation network at our fingertips. We are also located near three deep water ocean ports, several regional airports, and only three hours from Hartsfield-Jackson International Airport.
With a strong workforce training pipeline, low operating costs, favorable working conditions, and a host of local and state incentives, you’ll see why so many have chosen to Select Moultrie.
