Historical Multifamily Sale Listing - Riviera Apartments

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Riviera Apartments

1021 Church Street, Smyrna, GA 30080

N/A

48 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
48
Building Size:
41,300 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
6.20%
Gross Rent Multiplier:
7.71
Occupancy:
76%
No. Stories:
2
Year Built:
1963
Lot Size:
3.60 AC
Listing ID
14067649
Last Updated
over 1 year ago

Highlights

  • Residential Financing Available - 10% DOWN !!
  • Strong History of Occupancy
  • Located Near Multiple New Developments
  • Occupancy will be 90% by April 15, 2005

Description

Riviera Apartments consist of 48 apartment units which are separately parcelled in groups of 4. This allows an investor to purchase the property as a group of quadraplexes, which are eligible for residential financing as opposed to a commercial loan. This financing option offers the buyer a more attractive interest rate, as well as requiring only a 5%-10% down payment. Additionally, Riviera apartments are located within walking distance to Church Street Park, as well as the new mixed use development surrounding Smyrna's new City Hall. New home construction, priced in the $400,000 range, is taking place less than 1/4 mile from the property, a very positive indication of excellent future appreciation. With twelve 1br/1ba units, twenty eight 2br/1ba units, and eight 3br/2ba units, the property has an ideal unit mix, which has contributed to the historically strong occupancy level.

Walking Distance to Retail Shopping and Restaurants
New Homes ($400k) being constructed within 1/4 mile
New Townhomes for sale nearby
Walking Distance to Smyrna City Hall and surrounding new mixed use developments
Adjacent to Church Street Park

Map of 1021 Church Street, Smyrna, GA 30080 (Cobb County)

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