304 Schley Cir - Apartments FOR SALE


Richland, GA 31825
$895,000 USD
229-665-3351
304 Schley Cir, Richland, GA for Sale
$895,000 USD
Apartments - FOR SALE
1/11
null | Request Cap Rate

304 Schley Cir
Richland, GA 31825


HIGHLIGHTS

  • 20 Units: Mix of 1BR, 2BR, and 3BR apartments
  • $75K New Roof: Architectural shingles with 40-year warranty
  • Exterior Fully Painted + 14 units updated with flooring & paint
  • High Income Potential: Estimated monthly rent of $18,600
  • High Income Potential: Estimated monthly rent of $18,600
  • Bonus: General contractor ready to complete the rehab

OVERVIEW

Fantastic Cashflow Opportunity for an Investor Who Will Complete the Remainder of This Rehab. The owner had a personal family situation happen and the rehabbed had to be halted. Price is $895,000 Firm! The owner of this 20-unit apartment complex partially rehabbed this complex which includes a brand new $75,000 roof that has a 40-year warranty with architectural shingles. Also, they have painted the entire exterior. In addition, 14 apartments have been completely repainted along with new wood laminate flooring. The complex is 100% vacant and still needs approx. $85,000 of interior rehab remaining. Once rehab is completed this 20-unit Apartment Complex will Appraise for $1,500,000! The remaining rehab to be completed is 7 or 8 completely new kitchens and bathrooms that need to be installed, and they need interior paint and flooring. In addition, nearly all 20 apartments need new kitchen counter tops, which the owner has already purchased and will stay with the property at closing. Once rehab is complete, fair market monthly rent amounts are the following… 6 - 1 Bedrooms @ $800 each 4 - 2 Bedrooms @ $900 each 10 - 3 Bedrooms @ $1,000 each Bonus: General Contractor is willing to complete the rehab for the new buyer. This property is For Sale by Owner. So, contact the owner directly at the contact number listed here. This Opportunity Won’t Last Long.

FOR SALE DETAILS

PRICE

$895,000 USD

PRICE/SF

$52 USD /SF

# OF UNITS

20

PRICE/UNIT

$44,750

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

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

Tim TaylorLeisure Dreams LLCMore Info
229-665-3351

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Tim TaylorLeisure Dreams LLCMore Info
229-665-3351

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