1204 Lakeview DR NW Conyers, GA 30012
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 7555085
Construction Status Updated/Remodeled
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1968
Annual Tax Amount $17,303
Tax Year 2024
Lot Size 3.000 Acres
Acres 3.0
Property Sub-Type Other
Property Description
24 UNIT INVESTMENT PROPERTY- PRICED TO SELL
Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity that's ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors.
With rents currently under market at just $1200 and 4 units vacant, there's a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the property's excess land presents multiple value-creation possibilities, from development opportunities to further enhancements.
This 24-unit building features exclusively spacious 2-bed, 1-bath units, each a generous 900 sqft, known for their ease of leasing, low maintenance needs, and strong demand. These units practically lease themselves and are highly sought after by renters!
In 2023, the property underwent a transformative $800k+ renovation, elevating the interiors, exterior, landscaping, parking lot, and amenities, as well as adding a modern onsite office. The upgrades have made this property even more attractive, enhancing its long-term value.
Priced to Sell at $3,485,000, with a recent appraisal of $4,292,905, this asset offers investors a golden opportunity to walk into instant equity.
Key Highlights:
* 7.6% Going-In Cap Rate
* 8.8% Stabilized Cap Rate
* 10%+ Cash-on-Cash Return
Don't miss out on this rare chance to capitalize on a property that blends immediate cash flow with huge growth potential. This is a must-see for any investor looking for a smart, high-reward acquisition!
Location
State GA
County Rockdale
Lake Name None
Interior
Heating Central
Cooling Ceiling Fan(s), Central Air
Flooring Luxury Vinyl
Window Features Aluminum Frames,Double Pane Windows
Exterior
Parking Features Level Driveway, Parking Lot, Paved
Fence Fenced
Community Features Barbecue, Clubhouse, Near Public Transport, Near Schools, Near Shopping, Near Trails/Greenway, Park, Playground, Restaurant, Sidewalks
Utilities Available Cable Available, Electricity Available, Natural Gas Available
Waterfront Description None
View City, Neighborhood, Trees/Woods
Roof Type Shingle
Accessibility None
Handicap Access None
Private Pool false
Building
Lot Description Level, Private, Wooded
Story Two
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick
New Construction No
Construction Status Updated/Remodeled
Schools
Elementary Schools Flat Shoals - Rockdale
Middle Schools Conyers
High Schools Rockdale County
Others
Senior Community no
Tax ID C070010026
Acceptable Financing 1031 Exchange, Cash, Conventional, Other
Listing Terms 1031 Exchange, Cash, Conventional, Other
Special Listing Condition None
