Matthews Real Estate Investment Services™ is proud to offer the College Park Apartments located at 2214 Gillionville Road, Albany, GA 31707. This 169-bed apartment community is an opportunity for an investor to purchase a well-established student housing community, positioned in a highly sought-after area near Albany State University – West Campus. This property offers an excellent opportunity for investors looking to tap into a high demand rental market in Albany, a city with a dynamic student population, and low supply of quality housing options.

This offering presents an opportunity for an investor to purchase this property at an in-place tax-adjusted 8.01% cap rate, with the opportunity to increase this to 10.75% stabilized cap rate by increasing the average rents to $648/bed.

Additionally, Albany State University (ASU) in Georgia has experienced consistent growth in recent years. In the Spring 2023 semester, ASU reported a 3.3% increase in enrollment compared to the previous year, adding 192 students to its community. The Fall 2023 semester also saw a 3.8% increase in student headcount, reaching 6,599 students, which is a 7.8% rise from five years prior. Notably, the graduate student population grew by 53.8% over the same period. These trends indicate a positive trajectory for ASU, reflecting its expanding academic offerings and increasing appeal to a diverse student body.

• Location: Prime location near Albany State University, catering to students and faculty.
• Stable rental demand: Consistent occupancy due to demand from both students and local professionals.
• Growth potential: Albany’s expanding economy, including university growth, offers future growth opportunities for investors.
• Affordable housing market: Albany’s affordable housing market, combined with increasing demand, presents an excellent opportunity for long-term returns.