506 N. 2nd Street
Lafayette, GA 30728
- – beds
- – baths
- – sqft
- ~1 acre lot
- 1975 build
- – on site
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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.
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Last updated Nov 1, 2024
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MLS# 10336438 —
The Building
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Year Built:1975
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Construction Materials:Other
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Structure Type:Multi Family (5+ Units)
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Levels:Two
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Basement:None
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# of Units Total:10
Location
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Latitude:34.714874
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Longitude:-85.284299
The Property
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Property Type:Residential Income
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Property Condition:Resale
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Lot Size Acres:1
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Lot Size Source:Public Records
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Parcel Number:1024062
Listing Agent
- Contact info:
- Agent phone:
- (888) 900-1801
- Office phone:
- (888) 900-1801
Taxes
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Tax Year:2015
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Tax Annual Amount:$1,284
Heating & Cooling
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Heating:Central
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Cooling:Central Air
Utilities
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Utilities:Electricity Individual Meters
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Sewer:Public Sewer
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Water Source:Public
Schools
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Elementary School:North Lafayette
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Middle School:Lafayette
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High School:Lafayette
The Community
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Subdivision:None
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Community Features:None
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Association:No
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Association Fee Includes:None
Parking
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Parking Features:Off Street
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
10/31/24
Oct 31, 2024
|
Sold | GAMLS | $785,000 | -15.1% |
|
9/17/24
Sep 17, 2024
|
Pending | GAMLS | $925,000 | |
|
7/11/24
Jul 11, 2024
|
Listed / Active | GAMLS | $925,000 |
