8537 Pineland Dr | Jonesboro, GA 30238
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8537 Pineland Dr
Jonesboro, GA 30238
QUAD MULTIFAMILY Jonesboro, GA metro Atlanta · Multifamily Property For Sale · 4 Units
Executive Summary
Fully renovated, this property offers excellent cash flow potential w/turnkey PM in place. If you are looking to build wealth, Current appraisal November 2024 of $830,000
PROPERTY HIGHLIGHTS: Unit Type: 4-unit Large Townhome quadplex, each with 2 beds and 2 baths, totaling 4,520 sq. ft.
• Recent Renovations: $120,000 over the last 14 months, including large back decks and added storage, backing onto a quiet greenbelt.
CURRENT RENT ROLL:
• Unit A: 51,395 (lease until 4/30/25)
• Unit B: 51,495 (lease until 4/30/25)
• Unit C: 51,435 (lease until 1/31/26)
• Unit D: Vacant (potential rent assumed at $1,495) FINANCIAL SUMMARY: 1.
Gross Rental Income:
• Annual income assuming full occupancy: $69,840 2. Annual Expenses:
• Estimated at 16% of gross income: $11,174.40 3. Net Operating Income (NOl):
• After expenses: $58,665.60 4.
Cap Rate:
• Actual cap rate is 7.52%, Projected 8% CAP RATE! Cash Flow:
• Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52.
• After debt service, projected annual cash flow is $15,241.08, Strong positive cash return.
Seller open to discussion buying down buyer interest rate, 5-6% mortgage rate possible to increase cashflow!
Call or text co-listing agent, John Marion for more info: 703-371-9548.
PROPERTY HIGHLIGHTS: Unit Type: 4-unit Large Townhome quadplex, each with 2 beds and 2 baths, totaling 4,520 sq. ft.
• Recent Renovations: $120,000 over the last 14 months, including large back decks and added storage, backing onto a quiet greenbelt.
CURRENT RENT ROLL:
• Unit A: 51,395 (lease until 4/30/25)
• Unit B: 51,495 (lease until 4/30/25)
• Unit C: 51,435 (lease until 1/31/26)
• Unit D: Vacant (potential rent assumed at $1,495) FINANCIAL SUMMARY: 1.
Gross Rental Income:
• Annual income assuming full occupancy: $69,840 2. Annual Expenses:
• Estimated at 16% of gross income: $11,174.40 3. Net Operating Income (NOl):
• After expenses: $58,665.60 4.
Cap Rate:
• Actual cap rate is 7.52%, Projected 8% CAP RATE! Cash Flow:
• Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52.
• After debt service, projected annual cash flow is $15,241.08, Strong positive cash return.
Seller open to discussion buying down buyer interest rate, 5-6% mortgage rate possible to increase cashflow!
Call or text co-listing agent, John Marion for more info: 703-371-9548.
PROPERTY FACTS
| Price Per Unit | $183,750 | Lot Size | 0.72 AC |
| Sale Type | Investment | Building Size | 4,520 SF |
| No. Units | 4 | Average Occupancy | 75% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1986 |
| Apartment Style | Garden | Parking Ratio | 1.99/1,000 SF |
| Building Class | C |
| Price Per Unit | $183,750 |
| Sale Type | Investment |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 4,520 SF |
| Average Occupancy | 75% |
| No. Stories | 2 |
| Year Built | 1986 |
| Parking Ratio | 1.99/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Ceiling Fans
- Deck
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 1 | $1,395 | - |
| 2+2 | 1 | $1,495 | - |
| 2+2 | 1 | $1,435 | - |
| 2+2 | 1 | $1,495 | - |
PROPERTY TAXES
| Parcel Number | 13-0244B-00F-001 | Improvements Assessment | $182,000 |
| Land Assessment | $8,000 | Total Assessment | $190,000 |
PROPERTY TAXES
Parcel Number
13-0244B-00F-001
Land Assessment
$8,000
Improvements Assessment
$182,000
Total Assessment
$190,000
zoning
| Zoning Code | RM (Residential Multifamily) |
| RM (Residential Multifamily) |
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