8537 Pineland Dr - Apartments FOR SALE


Jonesboro, GA 30238
$679,500 USD
404-585-8881
8537 Pineland Dr, Jonesboro, GA for Sale
$679,500 USD
Apartments - FOR SALE
1/35
null | 8.63% Cap Rate

8537 Pineland Dr
Jonesboro, GA 30238


HIGHLIGHTS

  • This fully renovated quadruplex provides a prime investment opportunity, with strong cash flow and professional management in place.
  • All the units are two bedroom/two bathrooms, with plank flooring, modern appliances, and great natural lighting.
  • Property is fully leased, generating a projected annual gross income of $69,840 with estimated expenses at 16% of total gross income.
  • The accessible location is near Highway 41 & 85 and is less than 30 mins to Hartsfield-Jackson Airport and less than 45 mins from Downtown Atlanta.

OVERVIEW

This fully renovated quadruplex at 8537 Pineland Drive is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. This 4,520-square-foot property, which was appraised at $830,000 in November 2024 following $120,000 in recent upgrades, features four spacious townhome-style units, each with two bedrooms and two bathrooms. The facility was constructed in 1986 on 0.72 acres and provides on-site surface parking for nine vehicles. 8537 Pineland Drive is easily accessible, sitting minutes from Highway 41 and Highway 85. The location is ideal for commuters, sitting less than 30 minutes from Hartsfield-Jackson Atlanta International Airport and less than 45 minutes from Downtown Atlanta. All units are leased, generating a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08. CURRENT RENT ROLL: • Unit A: $1394/month (lease until 4/30/26) • Unit B: $1,495/month (lease until 4/30/26) • Unit C: $1435/month (lease until 1/31/26) • Unit D: $1195/monrh (lease until 1/31/2026)

FOR SALE DETAILS

PRICE

$679,500 USD

PRICE/SF

$150 USD /SF

# OF UNITS

4

PRICE/UNIT

$169,875

CAP RATE

8.63%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8537 Pineland Drive

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,502 SF

ZONING

RM

APN/PARCEL ID

13-0244B-00F-001

ASK ABOUT THIS PROPERTY

Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

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Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

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