122 Toby Springs Ln - Apartments FOR SALE


Mcdonough, GA 30253
$765,000 USD
404-585-8881
122 Toby Springs Ln, Mcdonough, GA for Sale
$765,000 USD
Apartments - FOR SALE
1/31
null | 7.88% Cap Rate

122 Toby Springs Ln
Mcdonough, GA 30253


OVERVIEW

This updated quadruplex is a rare gem, offering impressive returns and a prime location that sets it apart in the investment market. Appraised at $850,000 following a $120,000 rehab completed within the last 14 months, this 5,192 sqft property boasts a strong CAP rate of 7.78%. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected annual gross income of $71,736. With an estimated annual expense rate of 16% of gross income ($11,477.76), the property delivers a Net Operating Income (NOI) of $60,258.24. Projected growth and cap rate: leased on full occupancy rents at $1,850 you will have a cap rate of 9.63% and a positive annual cash flow of $31,418.61. The building features four well-designed units - two with 3 bedrooms and 2.5 baths, and two with 2 bedrooms and 2.5 baths. Each unit is thoughtfully appointed with modern kitchen appliances, spacious living rooms, and recently poured concrete private patios with a storage closet overlooking a large shared yard. The property also includes dedicated parking pads for added tenant convenience. Located less than a mile from downtown McDonough and 2.5 miles from I-75, this home is in a prime location. This quadruplex stands out as a prime investment opportunity, combining modern updates, tenant-paid utilities, and a strategic location to deliver consistent income and strong financial growth - an ideal choice for expanding your portfolio. ***No showings until due diligence period. All units are occupied. Please do not disturb tenants.*** Seller is willing to buy down rate with an acceptable offer.

FOR SALE DETAILS

PRICE

$765,000 USD

PRICE/SF

$147 USD /SF

# OF UNITS

2

PRICE/UNIT

$382,500

CAP RATE

7.88%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

R1

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

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Janice OverbeckKeller Williams RealtyMore Info
404-585-8881

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