149 W Main St - Signature Condos - Lakeland Ga 8 Unit Apartment Building Offered at $1,363,150 CAD at a 7% Cap Rate Lakeland, GA 31635

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 $69,650. 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.