- For Sale $1,999,000
- Property Type Multi-Family
- Lot Size 5.24 Acre
- Year Built 1984
- Date Updated Apr 28, 2024
- Website www.cbcworldwide.com
Solid investment for 32 doors with larger units and proven rental history in Adel, GA. 8 brick buildings containing Four 2BR/1BA units each. ±960 sf consists of big bedrooms and bathroom, separate LR, dining and kitchen spaces. Walk-in closets, W/D hookups, individually metered for power / water, totally electric. Units separated by common breeze way for entry to limit neighbor noise. Seller has been updating units with new tops, fixtures, paint, flooring, etc. Market rents trending to $800/month with units leasing up as soon as they turn. ±5.24 acre site allows for plenty of greenspace and potential additional development with shared parking already in place. Adel is small-town market but pro-growth vision. Turnkey income in place, $800/month rent with 35% operating expense factor is with 9.29% proforma cap rate.
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Highlights
- Age: 31-40 Years Old
- Appliances: Range / Oven
- Appliances: Refrigerator
- Cooling: Central A/C - Electric
- Exterior Description: Brick
- Exterior Description: Other
- Flooring: Mixed
- Flooring: Tile
- Heating - Fuel Type: Electric
- Heating Type: Heat Pump
- Lot Size: 5-10 Acres
- Roof: Asphalt Shingle Roof
- Sewer: Public
- Water: City Water
- Great investment property!
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Contacts
John Courson
Coldwell Banker Commercial Premier Real Estate
Location
Getting Around
-
Walk Score ®
Car-Dependent (25) -
Bike Score ®
Somewhat Bikeable (39)
Powered by Walk Score ®
- City Adel, GA
- Neighborhood Adel
- Zip Code 31620
Points of Interest
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Liberty
0.20 miles
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Dorsey's Gas
0.95 miles
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Citgo
0.97 miles
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Citgo
1.36 miles
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Shell
1.60 miles
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BP
1.65 miles
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Citgo
1.73 miles
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Marathon
2.89 miles
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Holiday
3.08 miles
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Citgo
3.40 miles
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Dough Boys
0.25 miles
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Sweet T's Smokehouse
0.40 miles
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Hardee's
1.23 miles
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Pizza Hut
1.23 miles
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Subway
1.24 miles
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Domino's
1.27 miles
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Waffle House
1.31 miles
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Dairy Queen
1.35 miles
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McDonald's
1.41 miles
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Burger King
1.48 miles
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Community Christian Academy
0.52 miles
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Cook High School
2.10 miles
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Cook Elementary School
2.27 miles
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Cook Middle School
2.45 miles
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Webb-Miller School
9.78 miles
Contact Listing Broker
John Courson
Coldwell Banker Commercial Premier Real Estate