304 Schley Cir - Apartments FOR SALE


Richland, GA 31825
$695,000 USD
229-665-3624
304 Schley Cir, Richland, GA for Sale
$695,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

304 Schley Cir
Richland, GA 31825


HIGHLIGHTS

  • The Richland Apartments offer 20 units across seven buildings, offering a diverse layout with strong income potential.
  • This is a value-add opportunity as the property requires renovations, offering potential for increased rental income.
  • There is a varied unit mix offering one-bedroom, two-bedroom, and three-bedroom units to attract a broad tenant base.
  • Ideally located in a high-demand location, positioned for long-term rental growth.
  • 304 Schley Circle presents great investment potential, making it ideal for repositioning and maximizing returns.

OVERVIEW

This 20-unit multifamily complex, spread across seven buildings, offers a prime value-add investment opportunity. The property is currently vacant and requires approximately $125,000 in repairs. It comprises six one-bedroom units, four two-bedroom units, and 10 three-bedroom units. Previously a government-subsidized property, all former tenants received rent-assisted vouchers upon vacating, with fair market rent values of $865/month for one-bedrooms, $881/month for two-bedrooms, and $984/month for three-bedrooms. Originally purchased with the intent to rehab and hold, we have since acquired other properties and are now selling this complex as-is. The property will be delivered free and clear.

FOR SALE DETAILS

PRICE

$695,000 USD

PRICE/SF

$40 USD /SF

# OF UNITS

20

PRICE/UNIT

$34,750

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Richland Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1984

PARKING SPACES

-

LAND DETAILS

LAND ACRES

3.18 AC

LAND SF

138,521 SF

ZONING

RESIDENTIA

APN/PARCEL ID

R14-038,R14-039,R14-040,R14-041,R14-047,R14-048,R14-051,R14-052

ASK ABOUT THIS PROPERTY

Louis FernandezI AM Property Mgmt, LLCMore Info
229-665-3624

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Louis FernandezI AM Property Mgmt, LLCMore Info
229-665-3624

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.