Alpine Apartments – 58 Units

Waterstone Multi-Family Group is pleased to present Alpine Apartments, a 58-unit complex  located off of Interstate 185 – 100 miles south of Atlanta.

Built in two phases in 1961 and 1962, Alpine contains 12 single story buildings totaling ±48,000 SF. The property is positioned on several parcels totaling ±3.56 acres and offers 115 surface parking spaces. Alpine Apartments is currently 88% occupied and the unit mix consists entirely of two bedroom/one bath units. Residents pay electricity, gas, sewer, trash removal and water.

Major Employers near by include Fort Benning, TSYS, Muscogee County School District and Aflac.

Attractions in the Columbus area include Chattahoochee Riverwalk (15 mile walking trail from South Columbus to Fort Benning), Whitewater Express, Coca-Cola Space Science Center, National Infantry Museum and Oxbow Meadows.

Highlights:

  • Value-add opportunity with in-place rents approximately 53% below current market rates
  • Adjacent to Fort Benning US Army Post which supports more than 120,000 active-duty military, family members, reserve, retirees and civilians daily
  • 2018 demographics of ±107,862 people with average household Income of ±$46,449 within a 5-mile radius
  • 12.5 % Cash on Cash

 

Other

  • Address: 4225 Alpine Drive Columbus, Georgia 
  • Area: Columbus 
  • Number of Units: 58 
  • Year Built: 1962 
  • Acres: 3.56