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1586 Line St
Decatur, GA 30032
Multifamily Property For Sale
·
4 Units
PROPERTY FACTS
| No. Units | 4 | Lot Size | 0.09 AC |
| Property Type | Multifamily | Building Size | 3,864 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1961/2017 |
| Building Class | C | ||
| Zoning | RM85 | ||
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.09 AC |
| Building Size | 3,864 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2017 |
| Zoning | RM85 |
ABOUT 1586 LINE ST , DECATUR, GA 30032
Full renovation in late ‘17 early ‘18 including the following improvements: New electric HVAC systems in all units New Roof New electric hot water heaters in all units New kitchen cabinets and counters in all units New/ refurbished kitchen appliances in all units Refinished hardwoods Fresh paint New double-pane windows throughout Bathrooms feature new vanities and toilets New LED lighting throughout Unit 1 – 12 month lease through 2.2.19 @ $700/ month Unit 2 – 12 month lease through 2.28.19 @ $700/ month Unit 3 – 12 month lease through 2.28.19 @ $700/ month Unit 4 – 12 month lease through 7.31.19 @ $600/ month Building fully leased at below-market rates. Gross rent of $32,400 today. When lease renewals come up next year increase to market rates of $1000-1250/unit. Rentometer 1-bedroom area average is $920/mo and 2-bedroom average is $1250/mo. At just $1000/unit and 30% estimated expense rate, CAP rate is 10%. Appreciating area….act now! Drive by only. Inside inspection during due diligence with accepted contract. Cash or hard money only.
PROPERTY TAXES
| Parcel Number | 15-184-19-024 | Improvements Assessment | $131,540 |
| Land Assessment | $13,100 | Total Assessment | $144,640 |
PROPERTY TAXES
