8537 Pineland DR Active Save Request In-Person Tour Request Virtual Tour
Jonesboro,GA 30238
Key Details
Property Type Multi-Family
Sub Type Multi Family,Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Marsh Harbor
MLS Listing ID 10492350
Year Built 1986
Annual Tax Amount $7,457
Tax Year 2024
Lot Size 0.723 Acres
Property Sub-Type Multi Family,Quadruplex
Property Description
This fully renovated quadruplex is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. Appraised at $830,000 in November 2024 following $120,000 in recent upgrades, this 4,520 sqft property features four spacious townhome-style units, each with 2 bedrooms and 2 baths. All units are leased, generating a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08. Recent upgrades include expansive back decks and additional storage, all backing onto a peaceful greenbelt. Professionally managed and move-in ready, this property offers a turnkey opportunity for investors looking to build long-term wealth ***No showings until the due diligence period. All units are occupiedCoplease do not disturb tenants.*** The seller is willing to negotiate an interest rate buy-down to improve cash flow.
Location
State GA
County Clayton
Interior
Heating Central,Heat Pump
Cooling Central Air
Exterior
Parking Features Parking Pad
Garage Spaces 8.0
Community Features None
Utilities Available Other
View Y/N No
Building
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Swint
Middle Schools Pointe South
High Schools Mundys Mill
Others
Special Listing Condition Updated/Remodeled