This is an opportunity to own a rare quadruplex in the heart of Candler Park. THREE OF THE UNITS ARE OCCUPIED AND A NEW LEASE WAS JUST EXECUTED FOR THE VACANT UNIT FOR $1,800 MONTH, WHICH IS $200 OVER THE MARKET RATE FOR A ONE BEDROOM APARTMENT! This will increase the annual revenue to over $64,000 with very low expenses! This needle in the haystack quadruplex lies directly across the street from the entrance of Candler Park Recreation Area, and just a five minute walk from restaurants such as: Fellini's, El Gato, La Fonda, and Candler Market.Originally built in 1910, this property includes four 1B/1BA apartments with original charm such as vintage hardwood floors, intricate trim molding, antique fireplaces and original casement windows, as well as a great backyard with a fire pit. The Home has ample parking including a driveway and a parking lot directly across the street. All current tenants in good standing and up to date on rent. Units are currently leased below market rates. With a few updates, units could be leased for $1,600/month or more, further increasing the NOI and future residual value. Time to make hay while the sun shines!!!
Electricity Individual Meters, Gas Individual Meters, Water Billing Prorated
Aluminum Siding, Vinyl Siding, Brick
|Price Reduced (from $949,000)||$915,000||$34,000 (3.58%)|
|Active (from New)||–||–|
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Listing information last updated on September 18th, 2021 at 3:00pm EDT.