This property is Off-Market

1021 Church Street
Smyrna, GA 30080 ·

48 Units · Multifamily For Sale

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Riviera Apartments

Price N/A Cap Rate 6.20%
No. Units 48 Gross Rent Multiplier 7.71
Building Size 41,300 SF Occupancy 76%
Property Type Multifamily No. Stories 2
Property Sub-type Garden/Low-Rise Year Built 1963
Property Use Type Investment Lot Size 3.60 AC
Listing ID: 14067649 Date Created: 11/29/2004 Last Updated: 04/22/2005

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

Highlights

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

Research

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

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