Property Description

AMAZING RENTAL PACKAGE! Only 33k per door! Very nice and quiet area. Package contains five duplexes and one apartment complex with six apartments. Each unit is two bedrooms, one bathroom and about 800 sq ft in size. The rents need to be raised to $500 for each unit but are currently lower. Tenants pay all utilities as properties are separately metered. Property needs a new owner. The duplexes are next doors to gorgeous Santa Garden (please see video). With some TLC and re-positioning, these units will generate a 12%+ return on investment without any hassle. These buildings are solid brick construction. Only an hour and a half away from Savannah, GA.

Property Information

Listing statusSold
Property typeMulti Family
Total units16
Total bedrooms32
Total bathrooms16
Building size(unknown)
Lot size1.9 acres
Year built1983 - 1985

CountyToombs County
SubdivisionSANTA CLAUS
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$528,000
Estimated rehab¹$0
Total investment$528,000

TypeProforma

Gross income (annually)$96,000
Operating expenses (annually)$29,309
Net income (annually)$66,691
Gross return18.18%

Gross income (monthly)$8,000
Operating expenses (monthly)$2,442
Net income (monthly)$5,558
Net return12.63%

Property Income & ExpensesMonthlyAnnual

Income

Duplex
Unit 1: 2 bed / 1 bath$500/month$6,000/year
Unit 2: 2 bed / 1 bath$500/month$6,000/year
Unit 3: 2 bed / 1 bath$500/month$6,000/year
Unit 4: 2 bed / 1 bath$500/month$6,000/year
Unit 5: 2 bed / 1 bath$500/month$6,000/year
Unit 6: 2 bed / 1 bath$500/month$6,000/year
Unit 7: 2 bed / 1 bath$500/month$6,000/year
Unit 8: 2 bed / 1 bath$500/month$6,000/year
Unit 9: 2 bed / 1 bath$500/month$6,000/year
Unit 10: 2 bed / 1 bath$500/month$6,000/year
Multi Units 6 units
Unit 11: 2 bed / 1 bath$500/month$6,000/year
Unit 12: 2 bed / 1 bath$500/month$6,000/year
Unit 13: 2 bed / 1 bath$500/month$6,000/year
Unit 14: 2 bed / 1 bath$500/month$6,000/year
Unit 15: 2 bed / 1 bath$500/month$6,000/year
Unit 16: 2 bed / 1 bath$500/month$6,000/year
Total$8,000/month$96,000/year

Expenses

Property Taxes$409/month$4,907/year
Property Management$717/month$8,600/year
Insurance$525/month$6,302/year
Lawn care$375/month$4,500/year
Maintenance reserve$417/month$5,000/year
Total$2,442/month$29,309/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.