625 S Dooly Street, Montezuma, 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
  • CountyMacon County
  • Subdivision
  • ConstructionBrick
  • RoofSHINGLE
  • Water sourceCity
  • Water disposalSewer
  • HeatingWindow Unit
  • CoolingWindow A/C

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 / 1 bath $350/month $4,200/year
  • Unit A-10: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-2: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-3: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-4: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-5: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-6: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-7: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-8: 1 bed / 1 bath $350/month $4,200/year
  • Unit A-9: 1 bed / 1 bath $350/month $4,200/year
  • Unit B-1: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-10: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-2: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-3: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-4: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-5: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-6: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-7: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-8: 2 bed / 2 bath $400/month $4,800/year
  • Unit B-9: 2 bed / 2 bath $400/month $4,800/year
  • Total $7,500/month $90,000/year
  • Expenses
  • Property Taxes $372/month $4,461/year
  • Insurance $417/month $5,000/year
  • Lawn care $100/month $1,200/year
  • Maintenance reserve $833/month $10,000/year
  • Total $1,722/month $20,661/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.

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