Pine Ridge
333 S Mock Road Albany, GA
YEAR BUILT
1980 Reno in 2022
SIGNIFICANT CAPTIAL IMPROVEMENTS
Ownership has invested approximately $1mm in capital expenditures in 2022. They will continue the interior upgrades of the units up until the sale.
ROOM TO ELEVATE IN-PLACE VALUE-ADD
A new investor has the opportunity to finish the inplace renovation program, boost renovations another level and organically push rent.
CLOSE PROXIMITY TO EMPLOYMENT
Pine Ridge is just a half mile south of major thoroughfare E. Oglethorpe Blvd. (21,900 VPD), and near major job drivers including Proctor & Gamble, Georgia Pacific, Miller Coors, Phoebe Putney Hospital, and the Marine Coorps Logistics Base.
STRONG MARKET FUNDAMENTALS
During the past few years, there has been an influx of capital into the Albany market, spurring average projected rent growth to $740 after current rents reached an all-time high. Future job growth is projected to be higher than the national average.
ALBANY’S ROBUST ECONOMY
Due to its low cost of living and doing business, excellent highway access, and anchors in resilient industries, Albany continues to attract new jobs and maintains its position as a strong Georgia market.
RENTABLE SQFT
246,720
OCCUPANCY
93%