Property Description

*NEW VIDEO* CLEAN PROPERTY!! Absolute steal! Only $18,747/door! 12 quads. 36 x 2bed/1bath units and 12 x 1bed/1bath units. Good overall condition. Currently rented below market at $375 a unit with 80-90% occupancy. Potential to raise rents to $500 a unit with light rehab. Separate electric meters. Water can be sub-metered and be tenants responsibility. Each building has its own parcel so buildings can be resold individually!!! Improve common grounds and turn this into a B+ class property. Common area with a playground and place to add a swimming pool. Tons of potential for appreciation and insane cash-flow!!

Property Information

Listing statusSold
Property typeMulti Family
Total units48
Total bedrooms84
Total bathrooms48
Building size39150 sq. ft.
Lot size2.9 acres
Year built1986

CountyUpson County
Subdivision
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingWall unit
CoolingWall A/C

Property Financial Summary

Sale price$899,900
Estimated rehab¹$200,000
Total investment$1,099,900

TypeProforma
After repair value$1,200,000
Potential profit$100,100

Gross income (annually)$273,600
Operating expenses (annually)$85,864
Net income (annually)$187,736
Gross return24.87%

Gross income (monthly)$22,800
Operating expenses (monthly)$7,155
Net income (monthly)$15,645
Net return17.07%

Property Income & ExpensesMonthlyAnnual

Income

A
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
B
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
C
Unit 9: 1 bed / 1 bath$400/month$4,800/year
Unit 10: 1 bed / 1 bath$400/month$4,800/year
Unit 11: 1 bed / 1 bath$400/month$4,800/year
Unit 12: 1 bed / 1 bath$400/month$4,800/year
D
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
E
Unit 17: 2 bed / 1 bath$500/month$6,000/year
Unit 18: 2 bed / 1 bath$500/month$6,000/year
Unit 19: 2 bed / 1 bath$500/month$6,000/year
Unit 20: 2 bed / 1 bath$500/month$6,000/year
F
Unit 21: 2 bed / 1 bath$500/month$6,000/year
Unit 22: 2 bed / 1 bath$500/month$6,000/year
Unit 23: 2 bed / 1 bath$500/month$6,000/year
Unit 24: 2 bed / 1 bath$500/month$6,000/year
G
Unit 25: 2 bed / 1 bath$500/month$6,000/year
Unit 26: 2 bed / 1 bath$500/month$6,000/year
Unit 27: 2 bed / 1 bath$500/month$6,000/year
Unit 28: 2 bed / 1 bath$500/month$6,000/year
H
Unit 29: 1 bed / 1 bath$400/month$4,800/year
Unit 30: 1 bed / 1 bath$400/month$4,800/year
Unit 31: 1 bed / 1 bath$400/month$4,800/year
Unit 32: 1 bed / 1 bath$400/month$4,800/year
J
Unit 33: 1 bed / 1 bath$400/month$4,800/year
Unit 34: 1 bed / 1 bath$400/month$4,800/year
Unit 35: 1 bed / 1 bath$400/month$4,800/year
Unit 36: 1 bed / 1 bath$400/month$4,800/year
K
Unit 37: 2 bed / 1 bath$500/month$6,000/year
Unit 38: 2 bed / 1 bath$500/month$6,000/year
Unit 39: 2 bed / 1 bath$500/month$6,000/year
Unit 40: 2 bed / 1 bath$500/month$6,000/year
L
Unit 41: 2 bed / 1 bath$500/month$6,000/year
Unit 42: 2 bed / 1 bath$500/month$6,000/year
Unit 43: 2 bed / 1 bath$500/month$6,000/year
Unit 44: 2 bed / 1 bath$500/month$6,000/year
M
Unit 45: 2 bed / 1 bath$500/month$6,000/year
Unit 46: 2 bed / 1 bath$500/month$6,000/year
Unit 47: 2 bed / 1 bath$500/month$6,000/year
Unit 48: 2 bed / 1 bath$500/month$6,000/year
Total$22,800/month$273,600/year

Expenses

Property Taxes$805/month$9,664/year
Insurance$833/month$10,000/year
Property Management$2,000/month$24,000/year
Maintenance reserve$2,000/month$24,000/year
Lawn care$167/month$2,000/year
Pest Control$150/month$1,800/year
Water and Sewer$1,200/month$14,400/year
Total$7,155/month$85,864/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.