1000 Crystal Lake Circle, Macon, Georgia 31206

Sale Information

Asking Price: $8,500,000

Building Size: 282,316 SQ FT

Lot Size: 2178000

Cost per Square Foot: $30.11

Property Overview

Crystal Lake is a 235-unit gated community surrounding a tranquil lake on just under 50 acres in Macon Georgia. The existing facilities include a 12-story high-rise with 58 units, a 6-story mid-rise with 24 units, and 153 units in smaller multifamily buildings.

Crystal Lake has been known as the most sought after rental community in Macon. The property is now a reposition opportunity. The apartments are vacant allowing an immediate renovation and new identity. Estimating renovations at $3 million, projections illustrate strong returns, see page 6 of the Offering Memorandum. For additional upside the property has multiple areas to add additional residences facing the lake.

Macon has become a great place to invest. “In the last two years… more than $800 million in new private investment… have generated over 1,100 new jobs…” “Macon’s downtown has awakened, 53 restaurants opened downtown in recent years.” Atlanta
Business Chronicle December 2018.

Built: 1971

Property Details

Key Points: Value-add reposition opportunity 235 units on just under 50 acres Lake front expansion opportunity Elevators in high-rise and mid-rise Swimming pool, clubhouse and lake Originally developed in 1971 Approximately 530 parking spaces Offered as is, offers encouraged Unit mix includes 119 three to four bedroom units

Broker Information

Bull Realty
Michael Bull, CCIM

michael@bullrealty.com

www.BullRealty.com/

More From Bull Realty