34-Unit Historic Multifamily | Hickman Street
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Listing was updated on: 11/06/2022
Price: 4300000.00
location icon 936 Hickman Rd, Augusta, GA 30904, USA
Multifamily for Sale
from 05 Oct 2022
Description

LocationThe property is located in "The Hill" area of Augusta, GA, in close proximity to Augusta University's Summerville Campus, the Augusta National Golf course, Augusta University's Health Sciences Campus, the Georgia Cyber Center, and the city's Medical district. The apartments are located directly next to the historic Partridge Inn Hotel and overlooks the city of Augusta from its elevated location. SaleBack on the market and ready for its next investor with greatly improved rent rates, higher NOI, & greater investor returns. We are proud to present this truly one-of-a-kind Historic Apartment complex, located in the Summerville neighborhood of Augusta, GA. Comprising of five buildings built between 1906 and 1931, and located between the Augusta University Campus in Summerville and the Medical District, the complex is perfect for Students and Medical professionals. This multi-family portfolio has 34 leasable units with only 2 vacancies at the time of listing. There is a value-add opportunity with an additional 4 units that are ready to be renovated. Sitting on "The Hill", the property features stunning views of Downtown Augusta, and is located next to the Historic Partridge Inn, now a Hilton Hotel.

The property also features a value-add component, as four of the units are awaiting renovation, including two 2-Bedroom penthouses. The rest of the units could also be repositioned to increase rents to compete with Canalside and Ironwood Apartments and focus on medical professionals and students.
The list price for this property is $4,300,000.

Additional parameters

The information above is from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice.