1014 S Gordon Avenue
$1,999,000
1014 S Gordon Avenue Adel, GA 31620
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About this listing
Great investment property!
Solid investment for 32 doors with larger units and proven rental history in Adel, GA. 8 brick buildings containing Four 2BR/1BA units each. ±960 sf consists of big bedrooms and bathroom, separate LR, dining and kitchen spaces. Walk-in closets, W/D hookups, individually metered for power / water, totally electric. Units separated by common breeze way for entry to limit neighbor noise. Seller has been updating units with new tops, fixtures, paint, flooring, etc. Market rents trending to $800/month with units leasing up as soon as they turn. ±5.24 acre site allows for plenty of greenspace and potential additional development with shared parking already in place. Adel is small-town market but pro-growth vision. Turnkey income in place, $800/month rent with 35% operating expense factor is with 9.29% proforma cap rate.
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Lot Area
5.24 acres
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Year Built
1984
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MLS ID
134884
DESCRIPTION
- • Tax Roll Number: 004G 019A, 0040 004
- • Annual Tax: $ 11632.0
- • Max Contiguous Area: 30684.0
- • Age: 31-40 Years Old
- • Appliances: Refrigerator
- • Cooling: Central A/C - Electric
- • Exterior Description: Other
- • Flooring: Tile
- • Heating Fuel Type: Electric
- • Heating Type: Heat Pump
- • Lot Size: 5-10 Acres
- • Roof: Asphalt Shingle Roof
- • Sewer: Public
- • Water: City Water
