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3 Condo Bundle 6424 Woodstone Way 3 Unit Apartment Building $272,000 ($90,667/Unit) 14.68% Cap Rate Morrow, GA 30260
Investment Highlights
- Buy all 3 for a 15% discount (Accounted for in list price)
- Pro-forma 12-13% cap rate as coliving
- Pro-forma 10% cap rate as long-term rentals
Executive Summary
Three townhome-style condo bundle for $272,000 TOTAL, ten minutes from the busiest airport in the world. One is vacant, two are occupied. No rental restrictions, investor-friendly HOA. Discount for bundled sale. Long-term market rents are $4,500+. I'd suggest setting it up for co-living/PadSplit (furnished rooms for rent) with gross potential at $6000 to $7000+/mo if you add 3 rooms, which would put it at a 12%-15% cap rate. Cash or hard money loans only.
Units Included in Bundle:
6421 Woodstone Terrace | 2BR / 1.5BA
6423 Woodstone Terrace | 3BR / 3.5BA + Finished Basement
6424 Woodstone Way | 2BR / 1.5BA
Units Included in Bundle:
6421 Woodstone Terrace | 2BR / 1.5BA
6423 Woodstone Terrace | 3BR / 3.5BA + Finished Basement
6424 Woodstone Way | 2BR / 1.5BA
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,467
|
$21.12
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$9,674
|
$2.42
|
| Effective Gross Income |
$74,793
|
$18.70
|
| Taxes |
$4,548
|
$1.14
|
| Operating Expenses |
$30,312
|
$7.58
|
| Total Expenses |
$34,860
|
$8.72
|
| Net Operating Income |
$39,933
|
$9.98
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $84,467 |
| Annual Per SF | $21.12 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $9,674 |
| Annual Per SF | $2.42 |
| Effective Gross Income | |
|---|---|
| Annual | $74,793 |
| Annual Per SF | $18.70 |
| Taxes | |
|---|---|
| Annual | $4,548 |
| Annual Per SF | $1.14 |
| Operating Expenses | |
|---|---|
| Annual | $30,312 |
| Annual Per SF | $7.58 |
| Total Expenses | |
|---|---|
| Annual | $34,860 |
| Annual Per SF | $8.72 |
| Net Operating Income | |
|---|---|
| Annual | $39,933 |
| Annual Per SF | $9.98 |
Property Facts
| Price | $272,000 | Apartment Style | Townhome |
| Price Per Unit | $90,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 10.32 AC |
| Cap Rate | 14.68% | Building Size | 4,000 SF |
| No. Units | 3 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1972 |
| Property Subtype | Apartment | ||
| Zoning | R1 - Residential | ||
| Price | $272,000 |
| Price Per Unit | $90,667 |
| Sale Type | Investment |
| Cap Rate | 14.68% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 10.32 AC |
| Building Size | 4,000 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Zoning | R1 - Residential |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Granite Countertops
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Basement
- Dining Room
- Double Pane Windows
- Family Room
- Freezer
- Garden
- Office
- Pantry
- Patio
- Porch
- Large Bedrooms
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 1 | - | 1,048 |
| 3+3.5 | 1 | - | 1,836 |
| 2+1.5 | 1 | - | 1,116 |
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Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 12-0114C-00A-002 | Total Assessment | $3,040 (2025) |
| Land Assessment | $40 (2025) | Annual Taxes | $4,548 ($1.14/SF) |
| Improvements Assessment | $3,000 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
12-0114C-00A-002
Land Assessment
$40 (2025)
Improvements Assessment
$3,000 (2025)
Total Assessment
$3,040 (2025)
Annual Taxes
$4,548 ($1.14/SF)
Tax Year
2026
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3 Condo Bundle | 6424 Woodstone Way
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