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149 West Thigpen Avenue 16 Unit Apartment Building $1,653,151 CAD ($103,322 CAD/Unit) 8.63% Cap Rate Lakeland, GA 31635
INVESTMENT HIGHLIGHTS
- Modern kitchenettes with stainless-look appliances
- New roof and parking lot
- New plumbing and electrical systems
- On-site laundry, manager’s office, and professional camera security system.
EXECUTIVE SUMMARY
Willow Grove | Fully Renovated 16-Unit Investment Property – Lakeland, GA Exceptional turnkey multifamily investment opportunity! Willow Grove has been completely renovated in 2024 and repositioned from a former motel into 16 high-efficiency 1BR/1BA units with premium finishes. Each unit features luxury vinyl plank flooring, modern kitchenettes with stainless-look appliances, new plumbing and wiring, and a new roof and parking lot. Property includes on-site laundry, a small manager’s office, and professional camera security system. All units are separately metered for power; owner provides water, Wi-Fi, and dumpster service. Current rents range between $750–$875/month with a potential gross income of ±$14,000/month. Multi-year leases through a state-funded agency ensure dependable occupancy and income stability. Trailing 12-month cap rate: ±8.6%. Ideal for investors seeking low-maintenance, cash-flowing assets in a growing South Georgia market.
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2026) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,653,151 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $103,322 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 8.63% | Building Size | 5,067 SF |
| Gross Rent Multiplier | 7.11 | No. Stories | 1 |
| No. Units | 16 | Year Built/Renovated | 1970/2025 |
| Property Type | Multifamily | Parking Ratio | 4.93/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | R-3 - Residential - multi-family approved | ||
| Price | $1,653,151 CAD |
| Price Per Unit | $103,322 CAD |
| Sale Type | Investment |
| Cap Rate | 8.63% |
| Gross Rent Multiplier | 7.11 |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 5,067 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1970/2025 |
| Parking Ratio | 4.93/1,000 SF |
| Zoning | R-3 - Residential - multi-family approved |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Heating
- Ceiling Fans
- Crown Molding
- Kitchen
- Refrigerator
- Range
- Office
- Smoke Free
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Smoke Free
- Community-Wide WiFi
- Fiber Optic Internet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 10 | $1,124 CAD | 228 - 275 |
| 1+1 | 6 | $1,124 CAD | 318 - 385 |
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149 West Thigpen Avenue
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