Listing

Property Description:

Rare five unit townhouse complex located in the heart of Valdosta/Remerton. All 2BR/2.5BA floorplans are identical, each offering 2 upstairs bedrooms with private bathrooms. Living room, half-bath, and kitchen all downstairs with pass through real wood cabinets & countertops to see through to dining room. Nice totally electric appliance package includes refrigerator, range/oven, dishwasher and washer/dryer. Carpet and vinyl throughout and each unit has a utility room and fenced partitions between back doors to offer tenant privacy. Units are individually metered for power and water, plenty of parking for residents and guests. 0.71 acre site with good rental history, each unit rented now for $650/month with ability to bumps rents to $695 easily. Lots of jobs, dining, entertainment all around. Proforma cap rate of 8.21% using $695 rents and 35% operating expense.