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SOLD
Park Ridge Apartments
685 Penn Ave.
$950,000
Call: 678.760.7246
click for larger image
- 12 unit building
- hardwood floors
- porches and decks
- off street parking
- 4 blocks from Piedmont Park
|
Cash Flow |
|
Monthly |
Annual |
| Rental Income (12 Units) |
$9,017 |
$108,200 |
| Miscellaneous Income |
187 |
2,244 |
| Total Income |
9,204 |
110,444 |
|
| Expenses: |
|
|
| Property Tax 2003 |
762 |
9,144 |
| Property insurance |
467 |
5,600 |
| Grounds maintenance |
70 |
840 |
| Building maintenance, repair & turnkey |
220 |
2,640 |
| Garbage Pickup |
54 |
648 |
| Water |
200 |
2,400 |
| Gas |
165 |
1,980 |
| Common lighting |
190 |
2,280 |
| Vacancy (6%) |
552 |
6,627 |
| Management fees (3%) |
276 |
3,313 |
| Total Expenses: |
2,956 |
35,472 |
| Mortgage P & I (25 year amort., 3.85%) |
4,136 |
85,103 |
| Total Monthly Expenses |
7,092 |
85,103 |
|
| Total Positive Cash Flow |
$2,112 |
$25,341 |
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Additional Photos:
click photos for larger images
click photos for larger images
|
Return on Investment - 1st Year |
| Principal Reduction - 1st Year |
$19,324 |
| Annual Positive Cash Flow |
25,341 |
| 4.0% Appreciation/Year |
39,800 |
| Total Return |
84,465 |
|
Investment |
199,000 |
|
ROI ( $84,465 / $199,000 ) |
42% |
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Owner has made special arrangements with Southtrust Bank for the purchase of this property. They have provisionally agreed to offer a 3.85% rate with a 25 year amortization, depending upon the individual borrower's financial situation.
Contact Mark Lerner at (404) 841-4779 to discuss financing options. |
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Click Here - For a list of Recommended Lenders in the area. |
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