September 2019 Multifamily Update
There’s a lot of activity in Augusta’s Multifamily Market! We’ve already reported that there are over 1500 apartments in development around Augusta, and Damon Cline published an article with even more projects and details two weeks ago. Click here to download the Costar Multifamily Report, which has some great information about vacancy rates, rental rates, and the overall economy. Below we’ve included listings from the MLS, Costar and Crexi if you’re looking to buy or want to keep up with the market. Many of these properties trade off-market, so give us a call if you’re looking for off-market opportunities.
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MLS Multifamily Search (Mostly Duplexes & Quads)
Recent Notable Sales:
926 West Apartments, McKinley Inc. to McDowell Properties for 26.5M, $94.6K/Unit
Crane Creek Apartments, Southeastern Development to PASSCO Companies, $58.0M, $193K/Unit, 5.73% CAP
Metropolitan Augusta to Lexerd Capital – Sold Aug 26th, Terms not disclosed (and not yet public record)
What are your thoughts about the Multifamily Market? Overheated? Just getting started? What activity are you seeing? What do you think about rental rates? We’d love to hear your comments!