8537 Pineland Dr - Apartments FOR SALE


Jonesboro, GA 30238
$700,000 USD
404-585-8881
8537 Pineland Dr, Jonesboro, GA for Sale
$700,000 USD
Apartments - FOR SALE
1/35
null | 8.38% Cap Rate

8537 Pineland Dr
Jonesboro, GA 30238


HIGHLIGHTS

  • Fully Renovated Quadplex.

OVERVIEW

This fully renovated quadruplex is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. Appraised at $830,000 in November 2024 following $120,000 in recent upgrades, this 4,520 sqft property features four spacious townhome-style units, each with 2 bedrooms and 2 baths. All units are leased, generating a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08. CURRENT RENT ROLL: • Unit A: $1394/month (lease until 4/30/26) • Unit B: $1,495/month (lease until 4/30/26) • Unit C: $1435/month (lease until 1/31/26) • Unit D: $1195/monrh (lease until 1/31/2026)

FOR SALE DETAILS

PRICE

$700,000 USD

PRICE/SF

$155 USD /SF

# OF UNITS

4

PRICE/UNIT

$175,000

CAP RATE

8.38%

% LEASED

75%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8537 Pineland Drive

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1986

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.72 AC

LAND SF

31,502 SF

ZONING

RM

APN/PARCEL ID

13-0244B-00F-001

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.