Listed by Palomar Real Estate Group, EDGE Realty Partners Dallas / Fort Worth
Unpriced
Cedar Avenue Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 42,750
Net Rentable (SqFt) 42,750
Units 42
Occupancy 85.71%
Tenancy Multi
Year Built 1971
Buildings 9
Acreage 3.070
Investment Type Value Add
42 Units | 42,750 SF
Investment highlights
- Income-producing, rent-controlled 42-unit multifamily asset offers stable cash flow at 85.71% occupancy with revenue upside through lease-up.
- Balanced unit mix, including six one-bedroom, 20 two-bedroom, and 16 three-bedroom residences, broadens renter demand and supports diverse occupancy.
- Southwest Albany location near Albany Technical College, approximately five minutes to Downtown Albany and Southwest Georgia Regional Airport.
- Nine-building, garden-style layout with wood-frame construction on concrete slab supports long-term ownership efficiency and repositioning potential.
- In-unit washer and dryer hookups, standard kitchen appliances, a shaded central courtyard, and ample perimeter parking enhance resident appeal.
- Supportive market fundamentals, including a 62% renter population, reinforce sustained demand for attainable housing and long-term upside.
Listing Contacts
Listed by Palomar Real Estate Group, EDGE Realty Partners Dallas / Fort Worth
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Zoning
C-R ResidentialMulti FamilyCommunity Residential Multiple Dwelling
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View all 86 uses Last updated May 12, 2026 For deeper zoning details, reports are available at Zoneomics
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