300 Waddell St NE

Located just an hour north of Atlanta, Rome, GA, is a thriving tertiary market known for its strong employment base, historic charm, and vibrant community. The city is home to Berry College, the world’s largest contiguous college campus, which contributes to a stable economy and a consistent demand for housing.This unique investment opportunity in Rome, GA, presents a partially completed conversion of a former 28-unit apartment community into a 13-unit townhome development. Upon completion, each townhome will feature a spacious four-bedroom, two-bathroom layout with over 1,600 square feet of living space. The next owner will have the flexibility to either lease the units as a rental community or sell them individually, capitalizing on the strong demand for quality housing in the area. Market comps suggest potential rental income of approximately $1,800 per unit or an estimated sales price between $225,000 and $250,000 per townhome. This project offers an exceptional value-add opportunity for investors or developers looking to move forward with the conversion and maximize rental income or exit via individual unit sales. The plans for the community have been approved for the next owner to move forward immediately. This is an excellent chance to step into a promising investment in a high-growth market. Please notify listing agent and use caution when viewing the property.