2638 Fieldstone View Ln SE - Apartments FOR SALE


Conyers, GA 30013
$715,000 USD
404-585-8881
2638 Fieldstone View Ln SE, Conyers, GA for Sale
$715,000 USD
Apartments - FOR SALE
1/32
null | 7.56% Cap Rate

2638 Fieldstone View Ln SE
Conyers, GA 30013


OVERVIEW

This fully renovated quadruplex in Conyers presents an exceptional investment opportunity, boasting a strong CAP rate of 7.56%. Appraised at $855,000 after $120,000 in renovations completed in early 2024, the property spans an impressive 5,334 square feet. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected monthly income of $5,360 and an annual gross income of $64,320. With an estimated annual expense rate of 16% of gross income ($10,291.20), the property delivers a Net Operating Income (NOI) of $54,028.80. Projected Growth and cap rate: leased on full occupany rents at $1,600 you will have a cap rate of 9.02% and a positive annual cash flow of $24,720. Recent upgrades include all-new or recently serviced AC units with a minimum life expectancy of seven years, ensuring low maintenance costs for years to come. The building features four well-designed units - two with 3 bedrooms and 2 baths, and two with 2 bedrooms and 2 baths. Each unit is thoughtfully appointed with modern kitchen appliances, spacious living rooms, and private patios overlooking a large shared yard. The property also offers private parking pads and backs onto a tranquil greenbelt, providing a peaceful environment that is highly attractive to tenants. Located just 12 minutes’ drive from the newly established Archer Aerospace and Rivian manufacturing plant, which are collectively adding over 8,000 jobs to the area, the property benefits from robust tenant demand and growth in the local rental market. The combination of recent renovations, tenant-covered utilities, and a prime location makes this property a lucrative addition to any investment portfolio. Offering steady cash flow and long-term wealth-building potential, this high-performing investment property! ***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

$715,000 USD

PRICE/SF

$134 USD /SF

# OF UNITS

4

PRICE/UNIT

$178,750

CAP RATE

7.56%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1982

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

RES

APN/PARCEL ID

077-A-01-0079

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.