416 Tift Avenue

Description

9-Unit Apartment Complex — Historic North Albany Solid concrete construction, three stories over a basement, sitting in the heart of North Albany's historic district — less than a mile from Phoebe Putney Memorial Hospital. This is a true income producer that's already performing and still has room to run. Currently all but 1 are occupied with long-term tenants and generating $5,340 per month in gross rents. Several units sit well below market, so there's immediate upside on turnover or renewal without touching a wall. Every unit features original hardwood floors and appliances less than three years old, and the shared pergola gives residents outdoor space that's hard to find at this price point in the neighborhood. The sale includes the adjacent lot at 422 Tift Ave, giving you room to add units and expand the rent roll on land you already own. The previous owner ran rooms as short-term housing for travel nurses — with Phoebe just up the road, that playbook is still on the table for an owner who wants to push revenue harder than a standard 12-month lease will. Concrete building, hospital-adjacent location, stabilized tenancy, below-market rents, and expansion land in one package. Add it to the portfolio. Property is tenant occupied. Showings by appointment only with proper notice — please do not disturb tenants. Seller is a licensed Georgia real estate agent. Buyer to cooperate with seller's 1031 exchange at no cost to buyer. Call today to schedule a showing.