1204-1216 Lakeview Dr NW - Apartments FOR SALE


Conyers, GA 30012
$3,485,000 USD
404-580-8885
1204-1216 Lakeview Dr NW, Conyers, GA for Sale
$3,485,000 USD
Apartments - FOR SALE
1/67
null | 7.57% Cap Rate

1204-1216 Lakeview Dr NW
Conyers, GA 30012


HIGHLIGHTS

  • High Demand Leasing Market
  • Well Below Market Rents
  • Easy Access to Metro Atlanta

OVERVIEW

Discover an Unbeatable Opportunity at RIVERA PARK Apartment Homes! Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity that’s ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors. With rents currently under market at just $1200 and 4 units vacant, there’s a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the property’s excess land presents multiple value-creation possibilities, from development opportunities to further enhancements. This 24-unit building features exclusively spacious 2-bed, 1-bath units, each a generous 900 sqft, known for their ease of leasing, low maintenance needs, and strong demand. These units practically lease themselves and are highly sought after by renters! In 2023, the property underwent a transformative $800k+ renovation, elevating the interiors, exterior, landscaping, parking lot, and amenities, as well as adding a modern onsite office. The upgrades have made this property even more attractive, enhancing its long-term value. Priced to Sell at $3,485,000, with a recent appraisal of $4,292,905, this asset offers investors a golden opportunity to walk into instant equity. Key Highlights: * 7.6% Going-In Cap Rate * 8.8% Stabilized Cap Rate * 10%+ Cash-on-Cash Return Don’t miss out on this rare chance to capitalize on a property that blends immediate cash flow with huge growth potential. This is a must-see for any investor looking for a smart, high-reward acquisition!

FOR SALE DETAILS

PRICE

$3,485,000 USD

PRICE/SF

$161 USD /SF

# OF UNITS

24

PRICE/UNIT

$145,208

CAP RATE

7.57%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rivera Park

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

33

LAND DETAILS

LAND ACRES

3.01 AC

LAND SF

131,116 SF

ZONING

R-14

APN/PARCEL ID

C07-0-01-0026

ASK ABOUT THIS PROPERTY

Josh AhlzadehDelza PropertiesMore Info
404-580-8885

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Josh AhlzadehDelza PropertiesMore Info
404-580-8885

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.