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Key Details
Sold Price $663,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Subdivision Sweet Pine Plantation
MLS Listing ID 6933643
Year Built 1984
Annual Tax Amount $7,182
Tax Year 2020
Lot Size 0.490 Acres
Property Description
Calling all investors! RARE 4 SIDE BRICK QUADPLEX IN THE HEART OF NORCROSS. All units are well maintained by excellent long term tenants. Immediate income with No immediate repairs needed. Roof replaced in August 2018. Newer HVACs in 3 units and Water heaters about 5 years old. Most appliances are newer - less than 2 years. Currently it is bringing you $46200 Gross Income. Way below market rent, yet still brings you 5.5% cap rate! You can reach 8.3% - 8.6% cap rate or higher if you bring it to market rent which is $1350-$1400. This will generate 17%-18% cash on cash return with 75% LTV. Property already separately metered for water. 10 parking spaces. Trash is included in Gwinnett property taxes. Each unit is about 1139 SF per tax record. Please do not disturb tenants. No signs.
Location
State GA
County Gwinnett
Area 64 - Gwinnett County
Interior
Heating Forced Air
Cooling Ceiling Fan(s), Central Air
Exterior
Parking Features Parking Lot, Paved
Fence Back Yard
Community Features None
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Underground Utilities, Water Available
View Other
Roof Type Composition
Building
Lot Description Wooded
Story Two
Sewer Public Sewer
Water Public
Structure Type Brick 4 Sides
New Construction No
Schools
Elementary Schools Minor
Middle Schools Sweetwater
High Schools Berkmar
Others
Special Listing Condition None
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Bought with Maxima Realty LLC
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