712 W. Tyler Street
Dalton, GA 30720 ·
60 Units · Multifamily For Sale
60-Unit Apt Complex w/ on-site Laundry Facility
|No. Units||60||Cap Rate||7.13%|
|Building Size||27,450 SF||Occupancy||87%|
|Property Type||Multifamily||Year Built||1983|
|Property Sub-type||Garden/Low-Rise||Lot Size||3.73 AC|
|Property Use Type||Investment||APN / Parcel ID||12-199-12-000|
|Listing ID: 15981503||Date Created: 11/10/2008||Last Updated: 11/06/2009|
This is a great opportunity to add value by improving units and turning utility costs over to tenants. All units are small, one-bedroom apartments, thus resulting in low costs to rehab and to operate. A bonus is that one building was completely remodeled three years ago and there is enough land to add an additional building. As the economy improves during the next several years, this property can provide substantial increases in cash flow. There are a total of five apartment buildings and a laundry facility all situated on 3.73 acres. Each of the 60 one-bedroom units is approximately 447 sq ft. With 87% occupancy, the property has a current cap rate of 7.13%, with the potential of 8.36% at stabilized occupancy.
Located in Dalton, GA.
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