Description
Well maintained investment property in Virginia Highland! Prime location near Beltline and Ponce City Market. 1 story, 4-sided brick building with six, 1 BR/1BA, 440 SF units. 4 units are currently rented and 2 units have new tenants moving in at higher rent prices. Updated gross monthly income starting 8/1 is $7140/month ($85,680/yr). Projected gross monthly income when 3 current lease terms have been renewed at current market rate is $7465 ($89,580/yr) Reliable tenants, no late payers. Every unit has its own washer/dryer and is heated and cooled by an electric, hotel style wall unit. Each apartment is metered separately for gas and power and accounts are in tenants' names and paid by tenants. One water meter for the building and tenants pay a flat monthly water fee on top of rent (included in gross income calculation and future projections). Seller recently replaced water line and sewer main and repaired concrete walkways. Showings of occupied units will only be scheduled during due diligence after an offer is accepted. There is one vacant unit that can be shown by appointment before 7/25 and another unit that can be shown before 8/1. Please do not disturb tenants.
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0BEDS
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0.22ACRES
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01/2 BATHS
School Information
Description
Well maintained investment property in Virginia Highland! Prime location near Beltline and Ponce City Market. 1 story, 4-sided brick building with six, 1 BR/1BA, 440 SF units. 4 units are currently rented and 2 units have new tenants moving in at higher rent prices. Updated gross monthly income starting 8/1 is $7140/month ($85,680/yr). Projected gross monthly income when 3 current lease terms have been renewed at current market rate is $7465 ($89,580/yr) Reliable tenants, no late payers. Every unit has its own washer/dryer and is heated and cooled by an electric, hotel style wall unit. Each apartment is metered separately for gas and power and accounts are in tenants' names and paid by tenants. One water meter for the building and tenants pay a flat monthly water fee on top of rent (included in gross income calculation and future projections). Seller recently replaced water line and sewer main and repaired concrete walkways. Showings of occupied units will only be scheduled during due diligence after an offer is accepted. There is one vacant unit that can be shown by appointment before 7/25 and another unit that can be shown before 8/1. Please do not disturb tenants.
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