1604 Lankford Dr 15 Unit Apartment Building $3,574,613 CAD ($238,308 CAD/Unit) 6.29% Cap Rate Valdosta, GA 31601

1604 Lankford Drive offers a rare opportunity to acquire a newly constructed 15-unit multifamily asset in the highly desirable Valdosta market. Delivering in late April 2026, this ground-up development provides the advantages of modern construction, minimal deferred maintenance, and an accelerated path to stabilization, with 12 of 15 units already pre-leased on 12-month terms to begin upon developer's receipt of Certificate of Occupancy. The property features fifteen identical one-bedroom, one-bathroom units, each approximately ±782 square feet, designed for efficiency and strong tenant appeal. Units include central HVAC, in-unit washers and dryers, 9-foot ceilings, luxury vinyl plank flooring, matching set appliances, and walk-in closets, creating a Class A-style living environment. Units are pre-leasing at $1,295 per month, generating projected annual gross income of approximately $233,100 and providing a stable, predictable revenue stream. The property is individually metered for electricity (totally electric) and water, with tenants responsible for power and water, while ownership covers sewer, trash and lawn care, resulting in an efficient expense structure. Strategically located just off St. Augustine Road and US Highway 84, the property benefits from strong visibility along a well-traveled corridor, with traffic counts of approximately ±11,800 vehicles per day on Lankford Drive and ±21,600 on St. Augustine Road. The site offers immediate access to Valdosta’s primary retail / commercial corridor, Interstate 75 (Exits 16 and 18), Valdosta State University, major employers, healthcare providers, and Moody Air Force Base, supporting sustained rental demand. Constructed with durable, low-maintenance materials, this turnkey asset delivers immediate cash flow with minimal lease-up risk in one of South Georgia’s most active multifamily submarkets.