Ashburn Apartments
237 ADAMS Avenue, Ashburn, GA
19.23% return
LP:
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Property Description

This is an amazing opportunity. Property next doors has 100% occupancy at $475/unit. No vacancy in the whole town!! Blowout pricing!! Tons of upside potential!!! Do not miss out. This multi family is a total of 25 units with separate electric & water meters, city water & sewer, central heat & air. Property is all concrete block, including interior walls. 12 units are freshly renovated. Very inexpensive property to run and maintain. Located off Main Street approximately 2 miles from Interstate 75.

Property Information

  • Listing statusSold
  • Property typeMulti Family
  • Total units25
  • Total bedrooms36
  • Total bathrooms25
  • Building size15316 sq. ft.
  • Lot size1.4 acres
  • Year built1970
  • CountyTurner County
  • SubdivisionCITY OF ASHBURN (District 02)
  • ConstructionCBS
  • RoofShingle
  • Water sourceCity
  • Water disposalSewer
  • HeatingCentral
  • CoolingCentral air

Property Financial Summary

  • Asking price $399,900
  • Estimated rehab 1 $50,000
  • Total investment $449,900
  • Type Proforma
  • After repair value $549,900
  • Potential profit $100,000
  • Gross income (annually) $124,200
  • Operating expenses (annually) $37,675
  • Net income (annually) $86,525
  • Gross return 27.61%
  • Gross income (monthly) $10,350
  • Operating expenses (monthly) $3,140
  • Net income (monthly) $7,210
  • Net return 19.23%

Property Income & Expenses

  • Income
  • Unit 1: 1 bed / bath $400/month
  • Unit 10: 2 bed / bath $450/month
  • Unit 11: 2 bed / bath $450/month
  • Unit 12: 2 bed / bath $450/month
  • Unit 13: 2 bed / bath $450/month
  • Unit 14: 2 bed / bath $450/month
  • Unit 15: 2 bed / bath $450/month
  • Unit 16: 2 bed / bath $450/month
  • Unit 17: 1 bed / bath $400/month
  • Unit 18: 1 bed / bath $200/month
  • Unit 19: 1 bed / bath $400/month
  • Unit 2: 1 bed / bath $400/month
  • Unit 20: 1 bed / bath $400/month
  • Unit 21: 2 bed / bath $450/month
  • Unit 22: 2 bed / bath $450/month
  • Unit 23: 2 bed / bath $450/month
  • Unit 24: 0 bed / bath $350/month
  • Unit 25: 0 bed / bath $350/month
  • Unit 3: 1 bed / bath $400/month
  • Unit 4: 1 bed / bath $400/month
  • Unit 5: 1 bed / bath $400/month
  • Unit 6: 1 bed / bath $400/month
  • Unit 7: 2 bed / bath $450/month
  • Unit 8: 2 bed / bath $450/month
  • Unit 9: 2 bed / bath $450/month
  • Total $10,350/month
  • Expenses
  • Property Taxes $178/month
  • Insurance $833/month
  • Lawn care $60/month
  • Maintenance reserve $833/month
  • Property Management $1,035/month
  • Pest Control $100/month
  • Waste Collection $100/month
  • Total $3,140/month

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 the 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.

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