$ 925,000
506 N. 2nd Street Lafayette, GA 30728
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REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
Listed by John C. Lantz • Realty Hub of Georgia, LLC
$ 925,000
Est. payment /mo
Under Contract
506 N. 2nd Street Lafayette, GA 30728
1 Acres Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 10336438
Construction Status Resale
HOA Y/N No
Year Built 1975
Annual Tax Amount $1,284
Tax Year 2015
Lot Size 1.000 Acres
Property Description
PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT - PLEASE DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT. Four apartment buildings - 2 duplexes and 2 triplexes. These units are located together on one parcel. Building A (215 W. Indiana Street) includes two 3 bedroom, 1.5 bath units and one 1 bedroom, 1 bath efficiency. Building B (510 N. 2nd St.) has two 2 bedroom, one bath units. Building C (508 N. 2nd St.) has two 1 Bedroom, 1 bath units. Building D (506 N. 2nd St.) has two 2 bedroom 1 bath Townhouses with a 1 bedroom, 1 bath efficiency on the terrace level. Ten units in total with 4 different buildings on nice lot. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA GaMLS#10336429; 323 S. King Ave., Pine Mountain, GA GaMLS#10336421; 372 Grier Street, Macon, GA GaMLS#10336401; 303 E. Lee Street, Thomaston, GA GaMLS#10336411. Total Portfolio Price = $4,385,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,534,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure. It may be possible to purchase this Property separate from the Portfolio. Please contact listing agent for details. Thank you for looking.
Location
State GA
County Walker
Rooms
Basement None
Interior
Heating Central
Cooling Central Air
Exterior
Garage Off Street
Community Features None
Utilities Available Electricity Individual Meters
Building
Story Two
Sewer Public Sewer
Level or Stories Two
Construction Status Resale
Schools
Elementary Schools North Lafayette
Middle Schools Lafayette
High Schools Lafayette
Others
Acceptable Financing Owner 1st
Listing Terms Owner 1st
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