1018 Magnolia St
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1018 Magnolia St
4 Unit Apartment Building $425,000 ($106,250/Unit) Macon-Bibb, GA 31201
Investment Highlights
- Fully rented
- Downtown Macon
- 4plex
Executive Summary
Fully rented 4plex. Rare investment opportunity in prime downtown Macon area with plenty of room for additional income. Main house has 3 separate apartment units. Unit A is 2 bedroom 2 bath, Unit B is 2 bedroom 1 bath plus an office, Unit C is 1 bedroom 1 bath, and Unit D is a separate brick in-law suite which has been converted to a studio apartment, with paver patio and storage underneath for maintenance equipment or tenant use. Also included is a brick laundry house which can be converted to coin operations units for additional income. New metal roof over rear of house and external buildings. HVAC systems replaced within the last 4 years. Off street parking. Current monthly rent roll is $2400 with long term tenants low maintenance tenants. Rents are well below market averages which presents a great opportunity for quickly increasing income for any new owners. High demand rental area with a Vacancy rate is less than 2%.
No owner financing available.
No owner financing available.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
| Price | $425,000 | Property Subtype | Apartment |
| Price Per Unit | $106,250 | Apartment Style | Townhome |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Sale Conditions | Deferred Maintenance | Building Size | 4,150 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1890 |
| Price | $425,000 |
| Price Per Unit | $106,250 |
| Sale Type | Investment |
| Sale Conditions | Deferred Maintenance |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Lot Size | 0.21 AC |
| Building Size | 4,150 SF |
| No. Stories | 2 |
| Year Built | 1890 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | - | 1,200 |
| 2+1 | 1 | - | 1,200 |
| 1+1 | 1 | - | 800 |
1 of 1
Walk Score ®
Very Walkable (76)
PROPERTY TAXES
| Parcel Number | Q074-0302 | Total Assessment | $109,128 (2024) |
| Land Assessment | $22,550 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $86,578 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
Q074-0302
Land Assessment
$22,550 (2024)
Improvements Assessment
$86,578 (2024)
Total Assessment
$109,128 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
zoning
| Zoning Code | HR2 (High Density Residential) |
| HR2 (High Density Residential) |
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1018 Magnolia St
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