Historical Multifamily Sale Listing - 60-Unit Apt Complex w/ on-site Laundry Facility

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60-Unit Apt Complex w/ on-site Laundry Facility

712 W. Tyler Street, Dalton, GA 30720

N/A

60 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
60
Building Size:
27,450 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Commission Split:
5%
Cap Rate:
7.13%
Occupancy:
87%
Year Built:
1983
Lot Size:
3.73 AC
APN / Parcel ID:
12-199-12-000
Listing ID
15981503
Last Updated
over 1 year ago

Description

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.

Map of 712 W. Tyler Street, Dalton, GA 30720 (Whitfield County)

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