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Multifamily of 8 Single-family homes 712-724 Searcy Ave 30 Unit Apartment Building $495,000 ($16,500/Unit) 14% Cap Rate Griffin, GA 30223
Investment Highlights
- Portfolio of 8 single-family homes on one site — ideal for affordable housing.
- Each home has a private backyard, individual parking, separate utility meters, and separate mailing addresses.
- Class C workforce housing in a stable Griffin, GA rental market.
- Strong rental upside: 2 vacant units + below-market rents.
- Value-add potential to reach projected $8,900 monthly rent after leasing the two vacant units.
- there is building can fit 4 cars on it can be used as self storage for tools and mower grass
Executive Summary
THIS IS A CASH DEAL ONLY SOLD (AS IS)
------------------
Griffin 8-Unit Single-Family Portfolio
Address: Griffin, GA 30223Asset Type: Multifamily Portfolio | 8 Single-Family Units | Built 1960 | Class: C | Individual Yards | Parking | Separate Utility Meters | Individual Mailboxes
Cap Rate: ~ 12.6% actual
Purchase Price: $550,000
Current Monthly Rent: $5,800
Stabilized Monthly Rent Potential: $8,900
Expenses: ~ 10%
Occupancy: 75%
(8 units total — 6 currently leased, 2 vacant)
NOI (T12 Jun 2024 – May 2025):
Gross Income: ˜ $69,600 (actual)
Projected Gross Income: ˜ $106,800 (stabilized)
Expenses (10%): ˜ $6,960 actual / $10,680 stabilized
NOI Actual: ˜ $62,640
NOI Stabilized: ˜ $96,120
Avg Rent: ˜ $1,000 / unit monthly (current)
Contact: Randy Cell: 770-468-5870
------------------
Griffin 8-Unit Single-Family Portfolio
Address: Griffin, GA 30223Asset Type: Multifamily Portfolio | 8 Single-Family Units | Built 1960 | Class: C | Individual Yards | Parking | Separate Utility Meters | Individual Mailboxes
Cap Rate: ~ 12.6% actual
Purchase Price: $550,000
Current Monthly Rent: $5,800
Stabilized Monthly Rent Potential: $8,900
Expenses: ~ 10%
Occupancy: 75%
(8 units total — 6 currently leased, 2 vacant)
NOI (T12 Jun 2024 – May 2025):
Gross Income: ˜ $69,600 (actual)
Projected Gross Income: ˜ $106,800 (stabilized)
Expenses (10%): ˜ $6,960 actual / $10,680 stabilized
NOI Actual: ˜ $62,640
NOI Stabilized: ˜ $96,120
Avg Rent: ˜ $1,000 / unit monthly (current)
Contact: Randy Cell: 770-468-5870
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts Under Contract
| Price | $495,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $16,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 6.55 AC |
| Cap Rate | 14% | Building Size | 4,500 SF |
| Sale Condition | Bulk/Portfolio Sale | Average Occupancy | 75% |
| No. Units | 30 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1950/2020 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | C - Class C workforce housing in a stable Griffin, GA rental market. | ||
| Price | $495,000 |
| Price Per Unit | $16,500 |
| Sale Type | Investment |
| Cap Rate | 14% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 30 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 6.55 AC |
| Building Size | 4,500 SF |
| Average Occupancy | 75% |
| No. Stories | 1 |
| Year Built/Renovated | 1950/2020 |
| Opportunity Zone |
Yes |
| Zoning | C - Class C workforce housing in a stable Griffin, GA rental market. |
Amenities
Unit Amenities
- Kitchen
- Yard
- Family Room
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 22 | $900.00 | 760 - 1,200 |
| Studios | 8 | - | 760 |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $56,187 (2025) | |
| Land Assessment | $27,120 (2025) | Total Assessment | $83,307 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$27,120 (2025)
Improvements Assessment
$56,187 (2025)
Total Assessment
$83,307 (2025)
Contacts
-
Lamis Alruwaili Lamis Alruwaili -
Rawlings Realty, LLC Randall Rawlings - Lamis Alruwaili
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Lamis Alruwaili
Multifamily of 8 Single-family homes | 712-724 Searcy Ave
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