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239 Addington Drive NW

Rome, GA 30165
  • $1,220,000
  • STATUS: Active
  • ON SITE: 50 Days
  • MLS #: 7318230
UPDATED: 59 min ago
$1,220,000
  • 0
    BEDS
  • 1.43
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Condo
Built:
1930
County:
Area:

School Ratings & Info

Description

Awesome Investor's opportunity to own six duplexes (24 bedrooms and 12 full bathrooms) for a total of $1,220,000 ($203,333X6) with steady income and 100% occupancy rate. All buildings were improved/rebuilt in 2015 with the current effective age to be less than 10 years old. Each duplex has two units with a family room, two bedrooms and one full bathroom in each household. During the due diligence period the seller can meet with you and your buyer at his office in Chamblee. He can provide you with all of the paperwork related to the extensive improvements that were made to these duplexes, which were almost completely rebuilt from the ground up in 2015-2016. As a builder, he has a thorough record of the exact improvements and costs involved in the reconstruction process. Currently I just helped him to lease two of his available units (for $895.00/month (a few month ago) and for $925.00/month (a couple of months ago). The demand in this price range is overwhelming. If we recalculate CAP rate with the last market rent of $925.00 per month for all units, we will see the pro-forma CAP rate increase up to 9.6% and it's not the highest possible return which can be improved upward further. In the present time all six duplexes are combined into one legal deed so they have to be sold all together. All duplexes are located in a quiet neighborhood, surrounded by trees with private backyards available for entertaining family and friends.

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First MLS logo Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 First Multiple Listing Service, Inc. Data last updated 2024-02-21T16:07:36.17. For issues regarding this website, please contact BoomTown.
www.timcowan.com/homes/146303418
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239 Addington Drive NW Rome, GA 30165

  • Price: $1,220,000
  • Status: Active
  • On Site: 50 Days
  • Updated: 59 min ago
  • MLS #: 7318230
0
Beds
0
Baths
0
½ Baths
1.43
Acres
1930
Built
County:
Floyd - Ga
Area:
Floyd - Ga
Property Description
Awesome Investor's opportunity to own six duplexes (24 bedrooms and 12 full bathrooms) for a total of $1,220,000 ($203,333X6) with steady income and 100% occupancy rate. All buildings were improved/rebuilt in 2015 with the current effective age to be less than 10 years old. Each duplex has two units with a family room, two bedrooms and one full bathroom in each household. During the due diligence period the seller can meet with you and your buyer at his office in Chamblee. He can provide you with all of the paperwork related to the extensive improvements that were made to these duplexes, which were almost completely rebuilt from the ground up in 2015-2016. As a builder, he has a thorough record of the exact improvements and costs involved in the reconstruction process. Currently I just helped him to lease two of his available units (for $895.00/month (a few month ago) and for $925.00/month (a couple of months ago). The demand in this price range is overwhelming. If we recalculate CAP rate with the last market rent of $925.00 per month for all units, we will see the pro-forma CAP rate increase up to 9.6% and it's not the highest possible return which can be improved upward further. In the present time all six duplexes are combined into one legal deed so they have to be sold all together. All duplexes are located in a quiet neighborhood, surrounded by trees with private backyards available for entertaining family and friends.
Exterior Features

Construction Materials Frame Dock None Fencing None Foundation Slab Land Lot 0 Lot Features Level Number Of Parking Spaces 24 Other Structures None Parking Features On Street Pool Private YN No Road Front Feet 0 Road Surface Paved Road Type City Street Roof Type Other Stories Two View Other Waterfront Features None Window Features None

Interior Features

Basement None Cooling Central Air Flooring Laminate Heating CentralElectricForced Air Interior Features Other

Property Features

Accessibility Features None Association YN No Business Type Residential Current Zoning dup Electric 110 Volts Green Energy Efficient None Green Energy Generation None Home Warranty No Lot Size Dimensions x 0 Other Equipment None Owner Financing No Owner Pays Other Property Attached YN No Property Condition Resale Proposed Financing 1031 ExchangeCashConventionalOwner SecondOther Recommended Zoning Multi Family Sale Includes Other Security Features None Sewer Public Sewer Special Circumstances None Special Listing Conditions None Tax Year 2022 Taxes 4757 Type Condominium Utilities Cable AvailableElectricity AvailableNatural Gas AvailablePhone AvailableSewer AvailableWater Available Water Source Public

Listing provided courtesy of Realco Brokers, Inc.: .


First MLS logo Listings identified with the FMLS IDX logo come from FMLS, are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request. © 2024 First Multiple Listing Service, Inc. Data last updated 2024-02-21T16:07:36.17. For issues regarding this website, please contact BoomTown.
 
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Tim Cowan Real Estate | Keller Williams Realty Signature Partners
3375 Dallas Highway, Building 100
Marietta GA, 30064