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506 N 2nd Street , 506, 508, 510 N

Lafayette, GA 30728
  • $925,000
  • STATUS: Active
  • ON SITE: 52 Days
  • MLS #: 20079317
$925,000
  • 0
    BEDS
  • 1.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1975
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT. Four apartment buildings - 2 duplexes and 2 triplexes. These units are located together on one parcel. Building A (215 W. Indiana Street) includes two 3 bedroom, 1.5 bath units and one 1 bedroom, 1 bath efficiency. Building B (510 N. 2nd St.) has two 2 bedroom, one bath units. Building C (508 N. 2nd St.) has two 1 Bedroom, 1 bath units. Building D (506 N. 2nd St.) has two 2 bedroom 1 bath Townhouses with a 1 bedroom, 1 bath efficiency on the terrace level. Ten units in total with 4 different buildings on nice lot. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA - MLS#384247 323 S. King Ave., Pine Mountain, GA - MLS#384229 372 Grier Street, Macon, GA - MLS#384225 303 E. Lee Street, Thomaston, GA - MLS#384221 Total Portfolio Price = $3,985,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,394,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure.

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Georgia MLS logo© 2022 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than Kimberly Miller and Fabiola Mui | Keller Williams Realty Consultants are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or Kimberly Miller and Fabiola Mui | Keller Williams Realty Consultants. Data last updated: 2022-12-03T00:06:11.237.
www.realestatenorthgeorgia.com/homes/133828400
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506 N 2nd Street , 506, 508, 510 N Lafayette, GA 30728

  • Price: $925,000
  • Status: Active
  • On Site: 52 Days
  • MLS #: 20079317
0
Beds
0
Baths
0
½ Baths
1.17
Acres
1975
Built
Neighborhood:
None
County:
Walker
Area:
WALKER
Elementary School:
North Lafayette
Middle School:
Lafayette
High School:
Lafayette
Property Description
PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT. Four apartment buildings - 2 duplexes and 2 triplexes. These units are located together on one parcel. Building A (215 W. Indiana Street) includes two 3 bedroom, 1.5 bath units and one 1 bedroom, 1 bath efficiency. Building B (510 N. 2nd St.) has two 2 bedroom, one bath units. Building C (508 N. 2nd St.) has two 1 Bedroom, 1 bath units. Building D (506 N. 2nd St.) has two 2 bedroom 1 bath Townhouses with a 1 bedroom, 1 bath efficiency on the terrace level. Ten units in total with 4 different buildings on nice lot. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA - MLS#384247 323 S. King Ave., Pine Mountain, GA - MLS#384229 372 Grier Street, Macon, GA - MLS#384225 303 E. Lee Street, Thomaston, GA - MLS#384221 Total Portfolio Price = $3,985,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,394,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure.
Exterior Features

Attached Garage YN No Carport YN No Construction Materials Brick Garage YN No Levels Two Lot Size Area 1.17 Lot Size Source Public Records Lot Size Units Acres Parking Features Off Street

Interior Features

Above Grade Finished Area Units Square Feet Basement Crawl SpaceDaylightFinished Below Grade Finished Area Units Square Feet Building Area Units Square Feet Cooling Central Air Cooling YN Yes Fireplace YN No Fireplaces Total 0 Heating Central Heating YN Yes Living Area Units Square Feet

Property Features

Association Fee Includes None Association YN No Community Features None New Construction YN No Property Condition Resale Property Sub Type Multi Family Sewer Public Sewer Structure Type Multi FamilyDuplex Tax Annual Amount 5486.94 Tax Year 2021 Utilities Electricity Individual Meters Water Source Public

GAMLS logo Listing provided courtesy of Realpros Real Estate: 678-527-2270. © 2022 Georgia Multiple Listing Service, Inc. All rights reserved. Information Deemed Reliable But Not Guaranteed.


Georgia MLS logo© 2022 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than Kimberly Miller and Fabiola Mui | Keller Williams Realty Consultants are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or Kimberly Miller and Fabiola Mui | Keller Williams Realty Consultants. Data last updated: 2022-12-03T00:06:11.237.
 
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