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Eagle Ridge Apartments

$1,600,000

372 W South St, Canton, GA 30114

Active
Last Updated: 11/03/2022

7.89

Cap Rate

126,197

NOI

Details:
Cap Rate:    7.89%
NOI:    $126,197
Building Size:    29,000 sqft
Lot Area:    3 acres
Occupancy:    100%
Units:    25
Year Built:    1989
Floors:    2
Highlights:
  • All Roofs replaced 12 years ago
  • Plumbing Below Grade - plastic
  • Plumbing above grade - copper
  • Electrical - copper
  • No section 8
  • Built in 1989
  • HVAC 90% replaced
  • Laundry Facilities
  • Maintenance on site
  • 1 bedroom/1 bath: 12x28x2 = 672 sq. ft.
  • 2 bedroom/2 bath: 12x28x3 = 1008 sq. ft.
Description:

Nestled in a quiet wooded residential neighborhood. The property includes five buildings containing 25 apartment units. In addition, there is a single family rental unit with two-bedrooms/ one bath.

There is an on-site office with storage which is currently used for maintenance equipment. This space totals approximately 660 sf. which could be converted to a loft rental unit.

The property is spacious, wooded, and only partially developed. Eagle Ridge encompasses approximately 4.1+/- sloping acres with access from West South St. and Killian St.

Located about 40 miles north of Downtown Atlanta, Canton is one of the city’s northern suburbs. Like many Southern railroad towns, Canton contains a historic downtown with wide sidewalks wrapped around a central greenspace. Canton is located in the foothills of the Blue Ridge Mountains and is bisected by the Etowah River. The Hickory Log Creek Reservoir is at the city's north end.

Canton is the county seat of Cherokee County. This popular city is fast-growing, the population more than doubling in the past 10 years. The scenic landscape, the historic downtown, and the family-friendly atmosphere make Canton a terrific choice for your next apartment.

Map:
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