223 Addington Drive

Closed 6/10/24
Closed 6/10/24
Gallery Image 1
Sold
Last Sold Price
$208,500
24 beds

223 Addington Dr, Rome, GA 30165

Multi FamilyProperty Type
1.43 acresLot Size
1930Year Built

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...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.
  • Listed by: Igor Arkhipov • Realco Brokers, Inc.
Listing closed: 06/10/2024 12:00 AM • Source: FMLS, MLS#: 7318232
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Location

Listing Courtesy of Realco Brokers, Inc., Igor Arkhipov

Sold By Keller Knapp, Elena Saro

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$1,510 per month

30 year fixed, 7.03% Interest

Principal and Interest

$1,113

Property Taxes

$396

HOA Dues

$0

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Property Information for 223 Addington Drive

Property Details

  • Taxes: $4,757 / year
  • MLS Type: Residential Income / Duplex
  • County: Floyd County
  • Subdivision Complex: None
  • Parking Features: Level Driveway
  • Property Attached: No
  • Waterfront Features: None

Building Information

  • Stories: 1
  • Residences: 12
  • Year Built: 1930
  • Lot Size: 1.43 AC / 62,290 SF

Summary

Location and General Information
  • Community Features: None
  • Directions: Please use GPS
  • Lake Name: None
  • View: Other
  • Coordinates: -85.221967, 34.29116
Taxes and HOA Information
  • Parcel Number: H12Z 607
  • Tax Year: 2022
  • Association: No
  • Block: 0
  • Tax Legal Description: LTS 48-52 BATTEY BABY FMS PB 2-118 LL 89 4/4
  • Tax Lot: 0
School Information
  • Elementary School: Floyd - Other
  • High School: Rome
  • Middle School: Rome
Parking
  • Open Parking: Yes

Agent

Payment and Rate
  • Concessions Amt: $4,167.00

Interior and Exterior Features

Interior Features
  • Cooling: Central Air
  • Heating: Central, Electric, Forced Air
  • Flooring: Laminate
  • Levels/Stories: One and One Half
  • Window Features: None
  • Bathrooms Total Interger: 0
Exterior Features
  • Accessibility Features: None
  • Construction Materials: Frame
  • Dock: None
  • Fencing: None
  • Roof Type: Composition
  • Security Features: None
  • Pool Private: No

Property

Utilities
  • Sewer: Public Sewer
  • Utilities: Cable Available,Electricity Available,Natural Gas Available,Phone Available,Sewer Available,Water Available
  • Water Source: Public
Property and Assessments
  • Home Warranty: No
  • Proposed Financing: 1031 Exchange, Cash, Conventional, Owner Second, Other
  • Plat Book: 0
  • Plat Page: 0
  • Property Condition: Resale
  • Possession: Close Of Escrow
Green Features
  • Green Energy Efficient: None
  • Green Energy Generation: None
Lot Information
  • Section/GMD: 0
  • Land lot: 0
  • Lot Features: Level
  • Acreage Source: Public Records
  • Lot Size Dimensions: x 0

Multi Family

Multi-Family Information
  • Unit Count: 12
  • NUM OF UNITS: 12
Unit 1
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $855.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 2
  • Unit Deposit Amount: $1,200.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $815.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 3
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $855.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 4
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $825.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 5
  • Unit Deposit Amount: $.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $825.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 6
  • Unit Deposit Amount: $685.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $895.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 7
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $815.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 8
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $830.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 9
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $925.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 10
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $825.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 11
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $810.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2
Unit 12
  • Unit Deposit Amount: $650.00
  • Unit Electric Included: Yes
  • Unit Features: Central Air, Dishwasher, Range/Oven, Refrigerator
  • Unit Garbage Included: Yes
  • Unit Gas Included: Yes
  • Unit Half Baths: 0
  • Unit Maintenance Included: Yes
  • Unit Occupant: Tenant Occupies
  • Unit Water Included: Yes
  • Unit Rent Amount: $715.00
  • Unit Full Baths: 1
  • Unit Bedrooms: 2

Rental

Rent Information
  • Terms: Other
  • Occupant Types: Tenant

Schools near 223 Addington Drive

This home is within Rome City School District.
Rating
School
Type
Grades
Distance
West Central Elementary School
Public - PK to 6
Rome Middle School
Public - 7 to 8
Rome High School
Public - 9 to 12
West End Elementary School
Public - PK to 6
Rating
School
Distance
West Central Elementary School
PublicPK to 6

Rome Middle School
Public7 to 8

Rome High School
Public9 to 12

West End Elementary School
PublicPK to 6

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Realco Brokers, Inc., Igor Arkhipov

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