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149 W Main #8, 
Lakeland, GA 31635

$965,000


Bed


Bath


9,248

Sq Ft


Multi-Family


Virtual Tour

Pending

Listed by

Jon Bollinger

The Herndon Company

229-244-1992

Last updated:

July 16, 2026, 05:52 PM

MLS#

153314

Source:

GA VBR

About This Home

149 W Main #8

Signature Condos is a well-maintained 8-unit townhome-style multifamily property offering strong in-place income and proven rental performance. Built in 2006 and recently upgraded with a new roof in 2025, this asset provides investors with a stable, low-maintenance opportunity in a growing South Georgia market. Each unit features a spacious two-story layout with 2 bedrooms and 2.5 bathrooms across approximately 1,156 square feet. Units include a full kitchen equipped with stove, refrigerator, dishwasher, and microwave, along with a comfortable living area, dedicated laundry room with washer/dryer connections, central heat and air, and private storage space. The townhome-style design continues to perform well with tenants, contributing to consistently high occupancy and minimal vacancy history. The property is currently 100% occupied with a strong rent roll totaling $8,390 per month ($100,680 annually), with four units at $1,100, one at $1,050, and three at $980. Using a 30% operating expense ratio, the property generates an estimated Net Operating Income (NOI) of approximately $70,476. At the current asking price, this positions the asset at an attractive cap rate for the market, with immediate cash flow in place. Located in Lakeland, Georgia, just minutes from Moody Air Force Base, the property benefits from steady rental demand driven by military and supporting workforce housing needs. The combination of strong occupancy, recent capital improvements, and clear path to increased revenue makes Signature Condos a compelling investment opportunity.

Home Facts

Multi-Family

Built in 2006

Price Summary

965,000

$104 per Sq. Ft.

MLS #:

153314

Last Updated:

July 16, 2026, 05:52 PM

Added:

2 day(s) ago


Rooms & Interior

Interior

Living Area:

9,248 Sq. Ft.


Structure

Structure

Building Area:

9,248 Sq. Ft.

Year Built:

2006


Lot

Lot Size (Sq. Ft):

21,780


Finances & Disclosures

Finances

Price:

$965,000

Price per Sq. Ft:

$104 per Sq. Ft.

Source:GA VBR
IDX information being provided is for consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Based on information from the Humboldt Association of REALTORS® July 16, 2026. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. GA VBR Member Broker: Tom Call

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.