223 Addington DR NW, Rome, GA 30165 – 7318232 - Tiffany Spencer

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Tiffany Spencer

tiffany.spencer@evmountains.com +1(770) 330-7579

$ 1,220,000

Est. payment -/mo

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Pending

223 Addington DR NW Rome, GA 30165

1.43 Acres Lot

UPDATED:

06/28/2024 06:49 PM

Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Pending

Purchase Type For Sale

MLS Listing ID 7318232

Construction Status Resale

HOA Y/N No

Originating Board First Multiple Listing Service

Year Built 1930

Annual Tax Amount $4,757

Tax Year 2022

Lot Size 1.430 Acres

Acres 1.43

Property Description

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.

Location

State GA

County Floyd

Lake Name None

Interior

Heating Central, Electric, Forced Air

Cooling Central Air

Flooring Laminate

Window Features None

Exterior

Parking Features Level Driveway

Fence None

Community Features None

Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available

Waterfront Description None

View Other

Roof Type Composition

Accessibility None

Handicap Access None

Private Pool false

Building

Lot Description Level

Story One and One Half

Sewer Public Sewer

Water Public

Level or Stories One and One Half

Structure Type Frame

New Construction No

Construction Status Resale

Schools

Elementary Schools Floyd - Other

Middle Schools Rome

High Schools Rome

Others

Senior Community no

Tax ID H12Z 607

Acceptable Financing 1031 Exchange, Cash, Conventional, Owner Second, Other

Listing Terms 1031 Exchange, Cash, Conventional, Owner Second, Other

Special Listing Condition None

Listed by Realco Brokers, Inc.

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Tiffany Spencer

Real Estate Advisor | License ID: 401859

+1(770) 330-7579

Tiffany Spencer

Tiffany Spencer

223 Addington DR NW Rome, GA 30165

Key Details

Location

Interior

Exterior

Building

Schools

Others

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223 Addington DR NW