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1014 Gordon Ave, Adel, GA 31620

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For Sale

$1,925,000

30,684 sqft

Estimated Payment

$      /mo. †

APR for 30 years

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  • Multi-Family (2-4 Units)
    Property type

  • $62.74
    Price per square foot

  • 31-40 Years Old
    Age

Explore this Property

Solid investment for 32 doors with larger units and proven rental history in Adel, GA. 8 brick buildings containing Four 2BR/1BA units each. 960 sq ft per unit consists of big bedrooms and bathroom, separate LR, dining and kitchen spaces. Walk-in closets, W/D hookups, individually metered for power / water, totally electric. Units separated by common breeze way for entry to limit neighbor noise. Sellers have updated more than 1/2 of the units with new tops, fixtures, paint, flooring, appliances, etc as needed when the units turn. Average rent is $715/month currently with all below market tenants getting bumped to $750 effective 04/01/2024. Market rents trending to $800/month with units leasing up as soon as they turn. 5.24 acre site allows for plenty of greenspace and potential additional development with shared parking already in place. Adel is small-town market but has pro-growth vision and leadership. Turnkey income in place, $750/month rent with 35% operating expense factor is with 9.72% proforma cap rate.
MLS# 134884

Courtesy Of COLDWELL BANKER PREMIER REAL E

(229) 244-3535

Property Features

  • Age
    31-40 Years Old
  • Appliances
    Range - Electric, Refrigerator
  • Architecture Style
    Other
  • Cooling System
    Central A/C
  • Exterior Type
    Brick Veneer
  • Floor Covering
    Tile, Vinyl
  • Heating Fuel
    Electric
  • Heating System
    Central Furnace
  • Lot Size
    5.24 Acres
  • Roof Type
    Composition Shingle

Map and Directions

Directions to 1014 Gordon Ave, Adel, GA 31620

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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