Augusta apartment demand runs on Fort Gordon and the Army's cyber mission, the medical district around Augusta University, and the Savannah River Site across the river. Richmond County's older workforce buildings and Columbia County's newer communities do not appraise off the same sales. Stabilized buildings fit Apartment DSCR or Interest-Only Apartment Loans.
Talk through a propertyTwo apartment markets show up in financing. Richmond County has older workforce buildings along Wrightsboro Road, Washington Road, and Gordon Highway, often bought for renovation. Columbia County, in Evans, Grovetown, and Martinez, has newer communities with cleaner condition and higher values. Comparable sales from one side rarely support values on the other, so appraisals need to stay local.
Masters week rent on a house can be large for a single week in April. An apartment loan is sized on the building's regular rent roll, not a one-week event rental.
Across the river, North Augusta and Aiken County in South Carolina are part of the same market, and Capituro closes in South Carolina as well.
Older apartment buildings along Wrightsboro Road, Washington Road, and Gordon Highway. Stabilized buildings fit Apartment DSCR or Interest-Only Apartment Loans, or a full-doc Georgia bank loan for stronger sponsors.
Apartment communities near Grovetown, Evans, and Martinez, often leased to military and medical-district tenants. Cleaner condition and higher values than central Augusta. Once stabilized, these refinance on the rent roll, including cash out when the value supports it.
Retail and apartments over storefronts along Broad Street and Washington Road fit Commercial DSCR when the income is the commercial leases.
Capituro also closes full-documentation loans in Georgia on bank and credit union terms. Underwriters look at your full financials and can add back depreciation, including cost segregation losses, when they calculate cash flow. Typical structure is a 5 to 10 year fixed term on a 20 to 30 year amortization with a personal guaranty, usually at much better rates than DSCR loans in exchange for more paperwork and a longer timeline.
Small apartment buildings across Richmond County.
Program detailsWorkforce apartments refinanced on rent roll and T-12.
Program detailsEquity from a renovated Richmond County building or an appreciated Columbia County community.
Program detailsRetail and mixed use along Broad Street and Washington Road.
Program detailsRichmond County and Columbia County values move differently. An appraisal that mixes the two can miss in either direction.
Older Richmond County buildings can face insurance questions about roofs, wiring, and plumbing. A recent inspection or renovation scope helps.
Masters week rent is real money, but it is not the regular rental income a long-term loan is sized on.
Individual homes in central Augusta are often valued well under $100,000. Those are not apartment loans. They fit 1 to 4 Unit DSCR when each property clears that program's minimum, or a local lender when the loan is too small for a blanket note.
An experienced investor was buying four leased houses off-market: a duplex and two single family homes in central Augusta and one home off Wheeler Road, together valued around $220,000 with rents from $500 to $1,100.
He wanted one blanket loan. The combined amount came in under the portfolio minimum, and several homes were below the minimum property value, so a blanket loan was off the table. Houses at those values are 1 to 4 Unit DSCR when each one clears the minimum, or a local lender. They are not sized like an apartment building.
