712-724 Searcy Ave - Apartments FOR SALE


Griffin, GA 30223
$550,000 USD
470-366-2873
712-724 Searcy Ave, Griffin, GA for Sale
$550,000 USD
Apartments - FOR SALE
1/19
null | 12.6% Cap Rate

712-724 Searcy Ave
Griffin, GA 30223


HIGHLIGHTS

  • Portfolio of 8 single-family homes on one site — ideal for affordable housing.
  • Strong rental upside: 2 vacant units + below-market rents.
  • Each home has a private backyard, individual parking, separate utility meters, and separate mailing addresses.
  • Value-add potential to reach projected $8,900 monthly rent after leasing the two vacant units.
  • Class C workforce housing in a stable Griffin, GA rental market.
  • there is building can fit 4 cars on it can be used as self storage for tools and mower grass

OVERVIEW

Griffin 8-Unit Single-Family Portfolio Address: Griffin, GA 30223Asset Type: Multifamily Portfolio | 8 Single-Family Units | Built 1960 | Class: C | Individual Yards | Parking | Separate Utility Meters | Individual Mailboxes Cap Rate: ~ 12.6% actual Purchase Price: $550,000 Current Monthly Rent: $5,800 Stabilized Monthly Rent Potential: $8,900 Expenses: ~ 10% Occupancy: 75% (8 units total — 6 currently leased, 2 vacant) NOI (T12 Jun 2024 – May 2025): Gross Income: ˜ $69,600 (actual) Projected Gross Income: ˜ $106,800 (stabilized) Expenses (10%): ˜ $6,960 actual / $10,680 stabilized NOI Actual: ˜ $62,640 NOI Stabilized: ˜ $96,120 Avg Rent: ˜ $1,000 / unit monthly (current) THIS IS A CASH DEAL ONLY SOLD AS IS

FOR SALE DETAILS

PRICE

$550,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

30

PRICE/UNIT

$18,333

CAP RATE

12.6%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Multifamily of 8 Single-family homes

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.55 AC

LAND SF

285,171 SF

ZONING

C

APN/PARCEL ID

127-06-002,128-01-008

ASK ABOUT THIS PROPERTY

Lamis AlruwailiLamis AlruwailiMore Info
470-366-2873

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Lamis AlruwailiLamis AlruwailiMore Info
470-366-2873

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