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1014 Gordon Ave Adel, GA 31620
- Other / Resale (MLS)
Property Details for 1014 Gordon Ave, Adel, GA 31620
Features
- Price/sqft: $62
- Heating: Central Furnace
Facts
- Year Built: 01/01/1984
- Property ID: 813502006
- MLS Number: 134884
- Property Type: Other
- County: COOK
- Listing Status: Active
Sale Type
This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.
Description
This listing is NOT a foreclosure. 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 sq ft per unit 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. Sellers have updated more than 1/2 of the units with new tops, fixtures, paint, flooring, appliances, etc as needed when the units turn. Average rent is $715/month currently with all below market tenants getting bumped to $750 effective 04/01/2024. 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 has pro-growth vision and leadership. Turnkey income in place, $750/month rent with 35% operating expense factor is with 9.72% proforma cap rate.
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Property Brokerage:
COLDWELL BANKER PREMIER REAL E
1108 Gornto Rd.
Valdosta
GA
31602
Copyright © 2024 South Georgia MLS (Valdosta). All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
All information provided is deemed reliable, but is not guaranteed and should be independently verified.