The Lofts at Baker
Multifamily | 20 Units | $110,000/unit
Marketing description
Marcus & Millichap is pleased to present for sale The Lofts at Baker. The property presents investors with the opportunity to acquire a recently renovated 20-unit multifamily asset located in the Midtown submarket of Augusta, Georgia. The property consists entirely of two-bedroom, one-bathroom units, each featuring washer and dryer hookups, a valuable amenity that supports tenant retention and rental competitiveness within the local market.
The property recently underwent a comprehensive renovation in which all major building systems were replaced or upgraded. Ownership invested approximately $80,000 per unit into the improvements, significantly enhancing the property’s condition and reducing near-term capital expenditure risk (see CapEx chart in OM for details).
Currently operating at approximately 95% occupancy, the property offers immediate in-place cash flow with additional upside through lease-up and continued operational efficiencies. The extensive renovation program positions the asset competitively against other workforce housing options in the surrounding Midtown and Medical District submarkets.
Strategically located near Augusta’s Medical District, Downtown Augusta, and Augusta University, the property benefits from consistent rental demand generated by healthcare professionals, university students, and service-sector employees seeking convenient and affordable housing.
View Listing: https://www.marcusmillichap.com/properties/202388/the-lofts-at-baker
For more information contact Marco Welch at [email protected] or (678) 808-2735.
***Do not submit LOI via Crexi
Investment highlights
20-unit multifamily property consisting entirely of two-bedroom, one-bathroom apartments.
Property recently underwent a major renovation program with all major building systems replaced.
Approximately $80,000 per unit was invested into the renovation, significantly upgrading the asset (see CapEx chart in OM).
Currently operating at approximately 95% occupancy, providing strong in-place income with upside through full stabilization.
Washer and dryer hookups in every unit, a highly desirable amenity that enhances tenant convenience and retention.
Located within Augusta’s Midtown corridor, minutes from the Medical District, Downtown Augusta, and Augusta University.
Attractive workforce housing investment positioned near major employment centers, universities, and retail amenities.
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