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Back on the market; buyer's financing fell through. Future buyer will need to put at least 35% down. Well maintained investment property in Virginia Highland! Prime location near Beltline and Ponce City Market. 1 story, 4-sided brick building with six, 1 BR/1BA, 440 SF units. Building is fully occupied by reliable tenants, no late payers. Updated gross monthly income is $7140/month. Projected gross monthly income when 2 current lease terms have been renewed at current market rate is $7240. Every unit has its own washer/dryer and is heated and cooled by an electric, hotel style wall unit. Each apartment is metered separately for gas and power and accounts are in tenants' names and paid by tenants. One water meter for the building and tenants pay a flat monthly water fee on top of rent. Seller recently replaced water line and sewer main from meter to building and repaired concrete walkways...
Back on the market; buyer's financing fell through. Future buyer will need to put at least 35% down. Well maintained investment property in Virginia Highland! Prime location near Beltline and Ponce City Market. 1 story, 4-sided brick building with six, 1 BR/1BA, 440 SF units. Building is fully occupied by reliable tenants, no late payers. Updated gross monthly income is $7140/month. Projected gross monthly income when 2 current lease terms have been renewed at current market rate is $7240. Every unit has its own washer/dryer and is heated and cooled by an electric, hotel style wall unit. Each apartment is metered separately for gas and power and accounts are in tenants' names and paid by tenants. One water meter for the building and tenants pay a flat monthly water fee on top of rent. Seller recently replaced water line and sewer main from meter to building and repaired concrete walkways. Showings of occupied units will only be scheduled during due diligence after an offer is accepted. Please do not disturb tenants.
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