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223 Addington Drive NW, Rome, GA 30165

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For Sale
Sale Pending

$1,220,000

1.43 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • 1.4 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

Awesome Investor s opportunity to own six duplexes (24 bedrooms and 12 full bathrooms) for a total of $1,220,000 ($203,333X6) with steady income and 100% occupancy rate. All buildings were improved/rebuilt in 2015 with the current effective age to be less than 10 years old. Each duplex has two units with a family room, two bedrooms and one full bathroom in each household. During the due diligence period the seller can meet with you and your buyer at his office in Chamblee. He can provide you with all of the paperwork related to the extensive improvements that were made to these duplexes, which were almost completely rebuilt from the ground up in 2015-2016. As a builder, he has a thorough record of the exact improvements and costs involved in the reconstruction process. Currently I just helped him to lease two of his available units (for $895.00/month (a few month ago) and for $925.00/month (a couple of months ago). The demand in this price range is overwhelming. If we recalculate CAP rate with the last market rent of $925.00 per month for all units, we will see the pro-forma CAP rate increase up to 9.6% and it's not the highest possible return which can be improved upward further. In the present time all six duplexes are combined into one legal deed so they have to be sold all together. All duplexes are located in a quiet neighborhood, surrounded by trees with private backyards available for entertaining family and friends.
MLS# 7318232

Courtesy Of REALCO BROKERS INC.

(404) 671-9321

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    1.43 Acres

Map and Directions

Directions to 223 Addington Drive NW, Rome, GA 30165

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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