Property
Beds
None
Full Baths
None
1/2 Baths
None
Year Built
1968
Sq.Footage
N/A
Discover an Unbeatable Opportunity at RIVERA PARK Apartment Homes! Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity thatCOs 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, thereCOs a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the propertyCOs 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 DonCOt 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!
Features & Amenities
Interior
-
Total Bedrooms
N/A
-
Bathrooms
N/A
-
Basement YN
NO
-
Cooling YN
YES
-
Cooling
Ceiling Fan(s), Central Air
-
Heating YN
YES
-
Heating
Central
-
Pet friendly
N/A
Exterior
-
Garage
Yes
-
Garage spaces
33
-
Construction Materials
Brick
-
Parking
Assigned
-
Pool
No
Area & Lot
-
Lot Size(acres)
3.0
-
Property Type
Residential Income
-
Property Sub Type
Multi Family
Price
-
Sales Price
$3,485,000
-
Tax Amount
17303.0
-
Sq. Footage
N/A
-
Price/SqFt
N/A
HOA
-
Association
No
School District
-
Elementary School
Flat Shoals
-
Middle School
Conyers
-
High School
Rockdale County
Property Features
-
Stories
2
-
Sewer
Public Sewer
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Location
County
Rockdale
Elementary School
Flat Shoals
Middle School
Conyers
High School
Rockdale County
Listing Courtesy of None
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