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Robin Wetherington

robin.wetherington@exprealty.com +1(229) 682-4737

Listed by Jon Bollinger THE HERNDON COMPANY

$ 965,000

Est. payment -/mo

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Pending

149 W Main #8 Lakeland, GA 31635

9,248 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Unit

Listing Status Pending

Purchase Type For Sale

Square Footage 9,248 sqft

Price per Sqft $104

MLS Listing ID 153314

HOA Y/N No

Year Built 2006

Lot Size 0.500 Acres

Lot Dimensions .5 Acres

Property Sub-Type Multi Unit

Property Description

Signature Condos is a well-maintained 8-unit townhome-style multifamily property offering strong in-place income and proven rental performance. Built in 2006 and recently upgraded with a new roof in 2025, this asset provides investors with a stable, low-maintenance opportunity in a growing South Georgia market. Each unit features a spacious two-story layout with 2 bedrooms and 2.5 bathrooms across approximately 1,156 square feet. Units include a full kitchen equipped with stove, refrigerator, dishwasher, and microwave, along with a comfortable living area, dedicated laundry room with washer/dryer connections, central heat and air, and private storage space. The townhome-style design continues to perform well with tenants, contributing to consistently high occupancy and minimal vacancy history. The property is currently 100% occupied with a strong rent roll totaling $8,390 per month ($100,680 annually), with four units at $1,100, one at $1,050, and three at $980. Using a 30% operating expense ratio, the property generates an estimated Net Operating Income (NOI) of approximately $70,476. At the current asking price, this positions the asset at an attractive cap rate for the market, with immediate cash flow in place. Located in Lakeland, Georgia, just minutes from Moody Air Force Base, the property benefits from steady rental demand driven by military and supporting workforce housing needs. The combination of strong occupancy, recent capital improvements, and clear path to increased revenue makes Signature Condos a compelling investment opportunity.

Location

State GA

Area 10-Lanier County

Zoning AU

Interior

Interior Features Insulated, Ceiling Fan(s)

Heating Central

Cooling Central Air

Flooring Carpet, Tile, Luxury Vinyl

Appliance Refrigerator, Electric Range, Microwave, Dishwasher

Exterior

Exterior Feature None

Parking Features Other

View Y/N No

Roof Type Shingle

Garage No

Building

Story 2

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories Two

Others

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"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(229) 682-4737

robin.wetherington@exprealty.com

Robin Wetherington

149 W Main #8 Lakeland, GA 31635

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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149 W Main #8