2354 Pine Cove Cir - Apartments FOR SALE
Gainesville, GA 30504 |
2354 Pine Cove Cir
Gainesville, GA 30504
HIGHLIGHTS
- Current NOI is $1,330,000. That is above a 5.5% cap on a whisper price of $24,000,000
- Hall County: One of the Ten Fastest Growing Co's in the US per multiple services such as Milken Inst., Site Selection Mgmt. Good location for growth
- Bad debt currently only 2.5%. Historically, this has been below 0.15%.
- Proven Value Add if $100-$200 depending on floor plan. 76 units completed. The rest remain classic. Est cost of reno is $8000 a unit.
- Good basics: 100% electric, Pitched Roofs, No Poly, No Alum Wiring, on major corridor, Browns Bridge Road (28k cars a day)
- Additional upside in NOI, and future supplemental debt from agency. Stable and growing collections. Immediately qualified for Agency debt
FOR SALE DETAILS
PRICE
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# OF UNITS
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CAP RATE
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% LEASED
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BUILDING DETAILS
PROPERTY NAME
Pines of Lanier Apartments
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Garden
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
87003
STORIES
2
YEAR BUILT
1985
PARKING SPACES
300
LAND DETAILS
LAND ACRES
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LAND SF
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ZONING
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APN/PARCEL ID
08-00007-01-004,08-00007-01-016,08-00007-01-020
