N/a, Austell, GA
PORTFOLIO INCLUDES A TOTAL OF 6 ADJACENT DUPLEXES (12 units), One Duplex pictured (2538-2540 Joe Jerkins). All 6 Duplexes are 4-sided Brick, 2 Bedrooms, 1 Bathroom, 800 SF, central heat & air-conditioning & washer/dryer connections. Each Duplex has its own property tax ID. The Atlanta area is one of the strongest real estate markets in the entire country. Austell is a popular Atlanta suburb, in Cobb County, only a short 25 minute commute to downtown Atlanta and a 30 minute commute to Hartsfield-Jackson Atlanta International Airport (world's busiest airport).Walk to downtown Austell restaurants & shopping, across the street from Collier Park & Collar Community Center (playground, tennis courts, etc.). Very close to Austell elementary school, Police Station, Daycare, City Hall & Post Office. Great location in the heart of Austell which is prime for new townhome development. Do NOT disturb tenants. Shown by appointment only. Current annual gross rental income: $75,300, Projected annual gross rental income: $123,120. At a Pro Forma CAP Rate of 6.5 % (typical for the Greater Atlanta area) the property value jumps to about $1,391,000. 10 of the 12 units are rented, most on month to month leases way below the market rates of $900 plus a month. Seller is renovating the remaining two vacant units and will rent those for at least $900 a month each. Tenants pay ALL utilities which are separately metered. Property management available. May Rent Roll and other information in attached documents. While the proposed Mixed Use Overlay District (see attached documents) has not yet been approved, it shows what the municipality is rapidly moving toward. Duplexes not sold separately. A high rental market demand here makes renting these units easy!
Listing Provided Courtesy Of: Homeland Realty Group, LLC.
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Data Last updated on July 9, 2020 1:45pm