Sealed bid auction set for portfolio of 130 income producing properties
A portfolio of Georgia income producing residences with 100 percent occupancy and a waiting list will be offered in a sealed-bid auction that ends Oct. 19. Seven Hills Auctions, based in Tallahassee, is marketing the portfolio and conducting the auction in conjunction with Keller Williams Realty Georgia Communities. Most of the properties are located in and around Albany.
"This is really a dream situation, with 102 single-family residences, eight duplexes and 20 multi-family units," said Buddy Lee, president of Seven Hills. "All of the properties are managed through Buildium.com, an industry management solution that is easily transferred to a new owner," he said.
"All of the units have been well maintained by vendors for everything from electrical to lawn care," said Lee.
The portfolio includes properties in Bibb, Colquitt, Crisp, Dougherty, Lee, Mitchell, Terrell and Worth counties.
"As a result of good management, the portfolio is 100 percent occupied, with 1,107 average days in unit and an average of 429 days left on the lease," Lee said.
"This is an ideal offering for larger and institutional investors and funds seeking a substantial number of properties that have benefited from sound ongoing management that includes relationships with tenants, collection of rents, and maintenance," said Lee.
A bidder packet is available by visiting SevenHilllsAuctions.com or calling 800-742-9165. It includes photos and detailed information on all properties, as well as information needed to ensure acceptance of bids. Bids are due by 3 p.m. at 3110 Capital Circle NE, Suite 200, Tallahassee, Florida, 32308.
Seven Hills Auctions, based in Tallahassee, conducts single and multi-property auctions throughout the United States.
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