1586 Line St Sold

  • $285,000
  • 8 beds
  • 4 baths
  • 3,864 sqft
Sold

Fully renovated and fully leased!!!!!!!!   Immediate cash flow.

Four unit apartment in Eastlake/ Decatur area (right half of 8-unit
building).  All units are 2 bedroom and 1 bathroom.  Right on MARTA bus line!

 

1586 Line St, Decatur GA 30032

Asking $285,000

 

Full renovation in late ‘17 early ‘18 including the following improvements:

  • New electric HVAC systems in all units
  • New Roof
  • New electric hot water heaters in all units
  • New kitchen cabinets and counters in all units
  • New/ refurbished kitchen appliances in all units
  • Refinished hardwoods
  • Fresh paint
  • New double-pane windows throughout
  • Bathrooms feature new vanities and toilets
  • New LED lighting throughout

Unit 1 – 12 month lease through 2.2.19 @ $700/ month (pics)
Unit 2 – 12 month lease through 2.28.19 @ $700/ month (pics)
Unit 3 – 12 month lease through 2.28.19 @ $700/ month (pics)
Unit 4 – 12 month lease through 7.31.19 @ $600/ month (legacy tenant; same renovations as other units but no pics as it was occupied during renovation)

Additional recent pictures

 

Building fully leased at below-market rates.  Gross rent of $32,400 today.  When lease renewals come up next year increase to market rates of $800-1000/unit.  Rentometer 1-bedroom area average is $920/mo and 2-bedroom average is $1250/mo.

 

Appreciating area….act now!

Drive by only.   Inside inspection during due diligence with accepted contract.  Cash or hard money preferred.

Contact Jeff at 678-809-5588 or jeffd@jmhventures.com for more information.

 

Price:
$285,000
Address:
1586 Line St
Decatur, GA 30032
Square Feet:
3,864
Bedrooms:
8
Bathrooms:
4
Terms:
For Sale
Property Type:
Apartment
Year Built:
1961

Call (678) 809-5588 for more details

Property Location