Light Interior Value-Add Opportunity: New ownership will have the opportunity to add value to College Park through a light renovation of interiors, such as resurfaced counters, painted cabinets, or new fixtures.
Enhance Amenities Package: To strengthen College Park’s appeal to college students, new ownership has the opportunity to enhance the amenities package through refreshing the sand volleyball court, adding fire pit stations, or adding grilling and seating areas.
Room to Build Units: The property is located on 19 acres with plenty of permissible area to build 150-170 additional units.
Excellent Location to Albany State West: Located adjacent to Albany State West Campus, College Park offers students off-campus housing with an on-campus location. The complex has a walking trail directly to the campus.
Proximity to Economic Drivers: The property offers tenants convenient access to some of Albany’s most significant economic drivers, including:
Opportunity Zone Provides Attractive Development Opportunity: College Park is located in an Opportunity Zone, providing a future roadmap for developers.
Renter-Dominated Albany Market: 60.6% of Albany residents rent their housing, compared to 32.1% of the general United States population.