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VICKY KNOWLES
COLDWELL BANKER PREMIER REAL ESTATE
1108 GORNTO ROAD
VALDOSTA GA 31602
229-251-8169 Cell
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Listing Details
MLS Number: 101127
List Price: $649,900
Bedrooms: 0
# Full Baths: 0
# Partial Baths: 0
Area: 4-S Baytree Rd to W Oak St to S Hill Ave (CtyLmts)
Historic District:  
Direction:  
Street #: 1001
Street Name: Hideaway
City: Valdosta
State: GA
Zip Code: 31602
Garage Dimensions:  
Carport Dimensions:  
Heating: Heat Pump
Cooling: Heat Pump
Water: City
Appliances: Refrigerator, Electric Stove
Recreation: None
Year Built: 1977
HOA Fee: No
HOA Fee $: 0
Interior Features: Insulated, Cable TV Available
Exterior Features: None
Parking: 1 Car, Assigned, Guest Parking
Pool: None
Restrictions:  
Property Type: Multi Unit
Property Description: Great investment opportunity, 24 unit 1 bedroom 1 bath total electric apartment complex. Owner spent nearly $300, 000 doing extensive renovations in 2011. Currently only 3 vacancies, one unit is occupied by property manager paying no rent and another is occupied by the maintenance/grounds keeper paying only $155.00 per month. Current annual income is $82, 440. There is an additional 4 unit complex located on .35 acres of the property which needs to be demolished and there's also a .69 acre adjoining lot which can be purchased (mls#101144). This will allow for addition units to be constructed adding to the income stream. Take out taxes and insurance and you’re above a 10% CAP now with still plenty of upside potential. This could be a real money maker.