712 Searcy Avenue

Description

RUSH SALE - MOVING OUTSIDE USA Multi-Unit Investment on 6.5+ Acres | 8 Homes + Storage Parcels: 128 01008 & 127 06002 Zoning: Multi-Family Residential & Agricultural Turnkey investment offering 7 rented homes, 1 unfinished apartment, a large storage building, and a fenced garden across two adjoining parcels totaling over 6.5 acres. Each home has its own backyard, utility connections (electric, water, gas, septic, mailbox), and strong rental history with upside potential. Managed by a professional property manager. Homes on Parcel 1 (5.64 acres): * 714 A - 1,192 sqft - 2BR/1BA - $1,200/mo - Granite kitchen, tile floors, large island, laundry room, porch. * 714 B - 725 sqft - 1BR/1BA - $1,100/mo - Butcher block counters, enclosed porch, fireplace. * 716 - 854 sqft - 1BR/1BA - $1,000/mo - Spacious layout, big closet, porch access. * 712 A - 660 sqft - Vacant - Est. rent $700 - Needs full renovation. * Storage Building - ~1,000 sqft - Est. rent $500 - Needs renovation but usable for tools, vehicles, or rental. Homes on Parcel 2 (0.89 acres): * 720 A - 856 sqft - 1BR/1BA - $1,000/mo - Laundry room, large closet (convertible to 2nd BR). * 720 B - 928 sqft - 1BR/1BA - $1,000/mo - Granite kitchen island, walk-in shower & tub. * 722 - 902 sqft - 1BR/1BA - $600/mo - Enclosed porch, spacious layout. * 724 - 1,056 sqft - 1BR/1BA - $700/mo - Previously a store, can easily be 2BR, huge living space, recently re-sided. Unfinished Apartment/Studio: Currently used as a photo studio, office, and music room. Has 3 small rooms and potential to convert to income-producing unit. Property Features: * 5 mins from downtown Griffin - Near DMV, hospital, courts, restaurants, and shopping * Fenced garden with raised beds and water lines * All homes individually metered (electric, water, septic, mailboxes) * Zoned for flexibility: residential/agricultural * Pad ready for another home (utilities in place from prior structure) * Individual tenant utility billing via Griffin Utility Financial Snapshot: * Monthly Gross Rent (7 houses): $6,600 * Annual Gross Income: $79,200 * Annual Expenses: $8,436 (includes lawn, lighting, taxes, insurance) * Net Operating Income (NOI): $70,764 * Cap Rate: 8.85% Improvement Estimates: * Full reno 712 A: $11,000 * Exterior decks/finish: $30,000 * New gravel driveways: $15,000 Even with updates, this remains a below-market deal. Comparable single homes in the area sell for $110K+ (as-is). You're essentially buying 8 homes, a large workshop, and acreage with low taxes ($2,800/yr for both parcels) and massive long-term upside. Live in one, rent the rest, or build your own family compound. Private, profitable, and ready for its next chapter.