218 W Hill Avenue #40, Valdosta, GA 31601
Local realty services provided by:CENTURY 21 Realty Advisors GA
Listed by: john courson
Office: coldwell banker premier real e
MLS#:149607
Source:GA_VBR
Price summary
- Price:$2,550,000
- Price per sq. ft.:$187.47
About this home
Courlley Court II is a rare opportunity to invest in a turnkey, stabilized, and proven multifamily asset located in downtown Valdosta, Georgia. Offered at $2,550,000 (approximately $63,750 per unit). The property consists of 40 total units, including 38 residential apartments and two on-site offices. The residential unit mix includes 36 efficient one-bedroom/one-bath units and 2 two-bedroom/one-bath units, along with a manager's office and additional office space. Originally constructed as a motel, the property was completely gutted and converted to apartment use in 2022. All residential units were fully rebuilt and feature durable finishes and efficient layouts with kitchenettes, updated cabinetry, flooring, fixtures, and lighting. Kitchenettes include mini-refrigerators, two-burner electric cooktops, and microhood vent systems. Courlley Court II operates under the Housing Choice Voucher (formerly known as Section 8) federally-funded housing program, providing reliable, government-backed rental payments and consistent demand. Pro forma rents average $875 per residential unit, equating to $35,000 in monthly income ($420,000 annually). Using a conservative 40% operating expense ratio, the property supports a 9.9% pro forma cap rate at the asking price. All residential units are individually metered for electricity and directly billed to tenants by Georgia Power, reducing landlord utility exposure. Ownership provides hot water, property-wide Wi-Fi, and dumpster service. Additional amenities include an on-site tenant laundry room. Major capital improvements include a new Duro-Last commercial roof installed in 2025, complete with a 20-year transferable warranty, significantly reducing near-term capital expenditure risk. Member of seller entity is a licensed real estate associate broker in Georgia....
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Home facts
- Listing ID #:149607
- Added:101 day(s) ago
- Updated:May 22, 2026 at 03:15 PM
Rooms and interior
- Flooring:Tile
- Kitchen Description:Microwave
- Living area:13,602 sq. ft.
Structure and exterior
- Roof:Rolled/Hot Mop
- Building area:13,602 sq. ft.
- Lot area:0.61 Acres
- Construction Materials:Block, Frame
- Exterior Features:Sprinkler System
- Levels:2 Story
Utilities
- Water:Public
- Sewer:Public Sewer
Finances and disclosures
- Price:$2,550,000
- Price per sq. ft.:$187.47
- Tax amount:$8,557 (2025)
Features and amenities
- Amenities:Blinds
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