223 Addington Drive
223 Addington Drive
$1,220,000
24
12
—
—
—
Pending
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.
Property Details for 223 Addington Drive
Subdivision Complex
None
Parking FeaturesLevel Driveway
Property AttachedNo
Waterfront FeaturesNone
Location
LISTING UPDATED: 04/17/2024 01:08 AM
Property Details for 223 Addington Drive
Status | Pending |
---|---|
MLS # | 7318232 |
Days on Market | 65 |
Taxes | $4,757 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income / Duplex |
Year Built | 1930 |
Lot Size | 1.43 AC / 62,290 SF |
County | Floyd County |
Location
Building Information for 223 Addington Drive
Stories1Residences12Year Built1930Building Size-Lot Size1.43 AC / 62,290 SF
Payment Calculator
$7,054 per month
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Property Information for 223 Addington Drive
Schools near 223 Addington Drive
This home is within Rome City School District.
Rating | School | Type | Grades | Distance |
---|---|---|---|---|
Public - | PK to 6 | |||
Public - | 7 to 8 | |||
Public - | 9 to 12 | |||
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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