1014 S Gordon Avenue

1014 S Gordon Avenue, Adel, GA

$1,999,000

Price

5.24 acres

Lot Area

1984

Year Built

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Overview
Lot Area
5.24 acres
Year Built
1984
MlsNumber
134884
Description

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.

Highlights
  • 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
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Listing ID: 1fcb3fd4-715e-497e-b40d-791231d2dbb5
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