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Posted: Friday, March 16, 2018 10:40 AM


Property Description:

Incredible investment. This is a high income generating business for sale. Transient license is in place!!! Evictions are instant without court. Total of 24 units (office included) on 3.3 acres of prime real estate. This property can generate some serious income: $178,800 a year when fully occupied and well managed. Decent overall condition. On-site property manager and handyman! Property did $126,000 in 2016. Weekly rental at $150+/week for 20 single units and $250+/week for 3 double units. Manager pays discounted rate of $500/month for 3bed/1bath office suite in exchange for services. Separate electric meters, tenants pay for electricity. Electric is updated. On-site laundry facility. Additional space with electric, water and sewer hookup to add additional housing. Tons of industry in town. Only 45 mins away from Jacksonville, FL and 8 miles from Florida/Georgia border. Folkston, GA seen 91% population growth in the last 7 years!!! Units rent immediately and always stay full. Currently running at a 17%+ net return after all expenses. **DO NOT CONTACT MANAGEMENT OR TENANTS UNDER ANY CIRCUMSTANCES. DRIVE BY ONLY**

Property Info:

Property type: Multi Family
Total units: 24
Total bedrooms: 28
Total bathrooms: 26
Building size: 11649 sqft.
Lot size: 3.3 acres
Year built: 1950
County: Charlton County
Subdivision: Folkston (District 02)
Construction: Frame, CBS
Roof: Metal
Water source: City
Water disposal: Sewer
Heating: Window Unit
Cooling: Window Unit

Property Financials:

Asking price: $480,000
Estimated rehab: $0
Total investment: $480,000
Type: Proforma
Gross return: 38.87%
Net return: 29.06%
Gross income: (annually) $178,800
Operating expenses: (annually) $45,104
Net income: (annually) $133,696
Gross income: (monthly) $14,900
Operating expenses: (monthly) $3,759
Net income: (monthly) $11,141

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• Location: 6017 2nd St N Folkston GA 31537, Augusta

• Post ID: 91935107 augusta is an interactive computer service that enables access by multiple users and should not be treated as the publisher or speaker of any information provided by another information content provider. © 2018