Homes Abroad the UK's leading guide to Holiday Homes Abroad

  • 20
  • Georgia
Price £767,016
  • title image

Property Description

Ref: OP09 Quality block of 20 apartments located in a popular district in North West Atlanta.

This well maintained block is offered for sale in good condition and has an appraised value of $1,338, 420. Built in 1969, the property totals 17,326 square foot and comprises twenty 2 bedroom, 1 bathroom apartments.

Property management is in place and there is an on-site maintenance contractor. 19 of the 20 apartments are presently tenanted.

Additional information from current owner who has owned the property for 10 years: Most tenants stay for a number of years. He has got rid of any problem tenants. New roof 3 years ago. HVAC system overhauled 2 years ago. All repairs and maintenance up to date.

Reduce costs by: The current owner is paying $23,400 annually for water and sewer... A new owner could pay for individual meters for each unit so that the tenants take on this cost.

The Financials:

Sales Price: $1,200,000

Estimated Closing Costs: $36,000

Agency Fee (3%): $36,000

TOTAL CAPITAL REQUIRED: $1,272,000

ANNUAL RENTAL INCOME: $148,200

OUTGOINGS:

Property Taxes: $5,076

Insurance: $6,060

Utilities: $23,400

Management: $6,000 (The present owner is hands on himself so ths figure may increase)

Miscellaneous: $3,300

TOTAL OUTGOINGS: $43,776

NET INCOME: $104,424

This represents a net yield of 8.21% with potential to increase further.

Please complete the Enquiry Form to receive detailed information.

Make Enquiry....

Property Location

country location
Join the HomesAbroad Newsletter