Cash Cow Rentals

182 Chestnut Street, Bremen, GA

19.40% return

SP: $225,000

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Property Description

Cash Cow with 19%+ Returns! Package of two quadplexes, total of eight rental units. Under Market Value. Separate electric meters. Nice historic feel. Very Close to Atlanta, GA. Great Location! Property is in decent shape. Needs TLC. Currently fully occupied. Call us today!

Property Information

Listing statusSold
Property typeMulti Family
Total units8
Total bedrooms14
Total bathrooms8
Building size(unknown)
Lot size0.2 acres
Year built1950

CountyHaralson County
Subdivision
ConstructionFrame
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingELECTRIC
CoolingWindow A/C

Property Financial Summary

Sale price$225,000
Estimated rehab¹$0
Total investment$225,000

TypeProforma

Gross income (annually)$53,340
Operating expenses (annually)$9,680
Net income (annually)$43,660
Gross return23.71%

Gross income (monthly)$4,445
Operating expenses (monthly)$807
Net income (monthly)$3,638
Net return19.40%

Property Income & ExpensesMonthlyAnnual

Income

Quad 182 Chestnut
Unit 182: 2 bed / 1 bath$550/month$6,600/year
Unit 184: 2 bed / 1 bath$550/month$6,600/year
Unit 186: 2 bed / 1 bath$550/month$6,600/year
Unit 188: 2 bed / 1 bath$595/month$7,140/year
Quad 190 Chestnut
Unit 190: 2 bed / 1 bath$550/month$6,600/year
Unit 192: 2 bed / 1 bath$550/month$6,600/year
Unit 194: 1 bed / 1 bath$550/month$6,600/year
Unit 196: 1 bed / 1 bath$550/month$6,600/year
Total$4,445/month$53,340/year

Expenses

Property Taxes$173/month$2,080/year
Water bill$240/month$2,880/year
Insurance$192/month$2,300/year
Lawn care$35/month$420/year
Maintenance reserve$167/month$2,000/year
Total$807/month$9,680/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.