*** ********* ***, ********, GA
15.41% return
LP:
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Property Description

Awesome investment property. 20 rental apartments. 1bed/1bath and 2bed/1bath units. Can generate $7500 a month in rents. Landlord friendly state. Very nice units. Needs some TLC, light cosmetic improvements and new ownership. Separate meters for electric and water, tenants pay all utilities. Solid concrete block construction with concrete foundation. 15%+ net return on investment is possible!! Do not miss out!!

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units20
  • Total bedrooms30
  • Total bathrooms30
  • Building size10452 sq. ft.
  • Lot size2.0 acres
  • Year built1984
  • County******** County
  • Subdivision********** *********
  • ConstructionBrick
  • RoofSHINGLE
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral

Property Financial Summary

  • Asking price $400,000
  • Estimated rehab 1 $50,000
  • Total investment $450,000
  • Type Proforma
  • After repair value $500,000
  • Potential profit $50,000
  • Gross income (annually) $90,000
  • Operating expenses (annually) $20,661
  • Net income (annually) $69,339
  • Gross return 20.00%
  • Gross income (monthly) $7,500
  • Operating expenses (monthly) $1,722
  • Net income (monthly) $5,778
  • Net return 15.41%

Property Income & Expenses

  • Income
  • Unit A-1: 1 bed / bath $350/month
  • Unit A-10: 1 bed / bath $350/month
  • Unit A-2: 1 bed / bath $350/month
  • Unit A-3: 1 bed / bath $350/month
  • Unit A-4: 1 bed / bath $350/month
  • Unit A-5: 1 bed / bath $350/month
  • Unit A-6: 1 bed / bath $350/month
  • Unit A-7: 1 bed / bath $350/month
  • Unit A-8: 1 bed / bath $350/month
  • Unit A-9: 1 bed / bath $350/month
  • Unit B-1: 2 bed / bath $400/month
  • Unit B-10: 2 bed / bath $400/month
  • Unit B-2: 2 bed / bath $400/month
  • Unit B-3: 2 bed / bath $400/month
  • Unit B-4: 2 bed / bath $400/month
  • Unit B-5: 2 bed / bath $400/month
  • Unit B-6: 2 bed / bath $400/month
  • Unit B-7: 2 bed / bath $400/month
  • Unit B-8: 2 bed / bath $400/month
  • Unit B-9: 2 bed / bath $400/month
  • Total $7,500/month
  • Expenses
  • Property Taxes $372/month
  • Insurance $417/month
  • Lawn care $100/month
  • Maintenance reserve $833/month
  • Total $1,722/month

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