223 Addington DR NW Pending Save Request In-Person Tour Request Virtual Tour
Rome,GA 30165
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 7318232
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1930
Annual Tax Amount $4,757
Tax Year 2022
Lot Size 1.430 Acres
Acres 1.43
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.
Location
State GA
County Floyd
Lake Name None
Interior
Heating Central,Electric,Forced Air
Cooling Central Air
Flooring Laminate
Window Features None
Exterior
Garage Level Driveway
Fence None
Community Features None
Utilities Available Cable Available,Electricity Available,Natural Gas Available,Phone Available,Sewer Available,Water Available
Waterfront Description None
View Other
Roof Type Composition
Accessibility None
Handicap Access None
Private Pool false
Building
Lot Description Level
Story One and One Half
Sewer Public Sewer
Water Public
Level or Stories One and One Half
Structure Type Frame
New Construction No
Construction Status Resale
Schools
Elementary Schools Floyd - Other
Middle Schools Rome
High Schools Rome
Others
Senior Community no
Tax ID H12Z 607
Acceptable Financing 1031 Exchange,Cash,Conventional,Owner Second,Other
Listing Terms 1031 Exchange,Cash,Conventional,Owner Second,Other
Special Listing Condition None