237 Adams Ave, Ashburn, GA

Multi-family for Sale - $799,999 - 15,319 Sq. Ft. on 1.41 acres


Agent Info

Josephine Rubi

Property Info

CIMLS#1067566
Location
  237 Adams Ave
  Ashburn GA 31714
UpdatedFebruary 10th, 2020
TypeMulti-family
Price$799,999
Building15,319 Sq. Ft.
Land1.41 acres

Contact


Property Description

Immediate Cash Flow! 12% Income Cap rate

Adams Ave Apartments located in the heart of Pecan country.

Property is made of concrete blocks inside and out. 100% occupied 25 unit (4) building apartment complex.

Unit Mix: 2-Studios, 10-(1) Bedroom, 13-(2) Bedroom

No Deferred maintenance. Tenants pay all utilities.

Apartments have been completely remodeled inside and out. Exterior has been totally painted, new roofs installed in all 4 buildings. Property has LED security lamps in the back of the drive ways. Gravel roads where graded and built up to 4 inches. New concrete pads where built for all apartments. New windows installed in all apartments as well as new Steel doors in the majority. Central Ac/Heat in all two bedroom units and brand new window units Ac/Heat capable of handling 550 sq ft have been installed in Studio and 1 Bedroom apartments.

Inside we have NEW heavy duty vinyl flooring; lights; ceiling fans; kitchen cabinets; Water heaters; toilets; bathroom vanity;kitchen, bath and shower faucets - everything NEW!

It is located within walking distance of DownTown, near I-75 and HWY 31 for easy commute

.

The property is currently managed by an on site manager who would stay in-place offering a truly “turnkey” investment opportunity with significant cash flow day one.

visit: https://www.easirealestatellc.com/


Financials

Total Gross Monthly Income $10,400

Total Gross Yearly Income GYI $124,800

Potential Vacancy % 5 = $6,240 adjusted GYI $118,560

Op Expense 17.87% - $22,305 Net Operating Income $96,255

Monthly Operating Income $8,021

Cap Rate Offer Price 12.05%