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323 S King Avenue

Pine Mountain, GA 31822
  • $1,125,000
  • STATUS: Active
  • ON SITE: 49 Days
  • MLS #: 20079316
UPDATED: 43 min ago
$1,125,000
  • 0
    BEDS
  • 1.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1974
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT. All brick apartment community with 12 units. Four 3 Bedroom, 1 Bath units and Eight 2 Bedroom, 1 Bath Units. Located north of Columbus, 2 miles from Callaway Gardens. 100% occupancy. Walking distance to the Resort City of Pine Mountain. Some units recently updated with new flooring, new appliances, new plumbing, new light fixtures, and new HVAC systems. Nice porches in front and back of units. Each unit has a private storage closet (or 2). Washer/Dryer Connections. Plenty of off-street parking on-site. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA - MLS#384247 323 S. King Ave., Pine Mountain, GA - MLS#384229 506 N. 2nd Street, Lafayette, GA - MLS#384228 372 Grier Street, Macon, GA - MLS#384225 303 E. Lee Street, Thomaston, GA - MLS#384221 Total Portfolio Price = $3,985,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,394,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure.

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Georgia MLS logo© 2022 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than The Heyl Group at Keller Williams are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or The Heyl Group at Keller Williams. Data last updated: 2022-11-30T15:06:28.82.
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323 S King Avenue Pine Mountain, GA 31822

  • Price: $1,125,000
  • Status: Active
  • On Site: 49 Days
  • Updated: 43 min ago
  • MLS #: 20079316
0
Beds
0
Baths
0
½ Baths
1.17
Acres
1974
Built
Neighborhood:
Kings View
County:
Harris
Area:
HARRIS
Elementary School:
Park
Middle School:
Harris County Carver
High School:
Harris County
Property Description
PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT. All brick apartment community with 12 units. Four 3 Bedroom, 1 Bath units and Eight 2 Bedroom, 1 Bath Units. Located north of Columbus, 2 miles from Callaway Gardens. 100% occupancy. Walking distance to the Resort City of Pine Mountain. Some units recently updated with new flooring, new appliances, new plumbing, new light fixtures, and new HVAC systems. Nice porches in front and back of units. Each unit has a private storage closet (or 2). Washer/Dryer Connections. Plenty of off-street parking on-site. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA - MLS#384247 323 S. King Ave., Pine Mountain, GA - MLS#384229 506 N. 2nd Street, Lafayette, GA - MLS#384228 372 Grier Street, Macon, GA - MLS#384225 303 E. Lee Street, Thomaston, GA - MLS#384221 Total Portfolio Price = $3,985,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,394,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure.
Exterior Features

Attached Garage YN No Carport YN No Construction Materials Brick Garage YN No Levels Two Lot Size Area 1.17 Lot Size Source Public Records Lot Size Units Acres Parking Features Off Street

Interior Features

Above Grade Finished Area Units Square Feet Basement None Below Grade Finished Area Units Square Feet Building Area Units Square Feet Cooling Central Air Cooling YN Yes Fireplace YN No Fireplaces Total 0 Heating Central Heating YN Yes Living Area Units Square Feet

Property Features

Association Fee Includes None Association YN No Community Features Sidewalks New Construction YN No Property Condition Resale Property Sub Type Multi Family Sewer Public Sewer Structure Type Multi Family Tax Annual Amount 10505.36 Tax Year 2021 Utilities Electricity Individual Meters Water Source Public

GAMLS logo Listing provided courtesy of Realpros Real Estate: 678-527-2270. © 2022 Georgia Multiple Listing Service, Inc. All rights reserved. Information Deemed Reliable But Not Guaranteed.


Georgia MLS logo© 2022 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than The Heyl Group at Keller Williams are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or The Heyl Group at Keller Williams. Data last updated: 2022-11-30T15:06:28.82.
 
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