8537 Pineland DR Active Save Request In-Person Tour Request Virtual Tour
Jonesboro,GA 30238
Key Details
Property Type Multi-Family
Sub Type Multi Family,Quadruplex
Listing Status Active
Purchase Type For Sale
Subdivision Marsh Harbor
MLS Listing ID 10492350
HOA Y/N No
Year Built 1986
Annual Tax Amount $7,457
Tax Year 2024
Lot Size 0.723 Acres
Acres 0.723
Lot Dimensions 31493.88
Property Sub-Type Multi Family,Quadruplex
Source Georgia MLS 2
Property Description
This fully renovated quadruplex consists of four units, each with 2 bedrooms and 1.5 baths. Recent upgrades include expansive back decks and additional storage, all backing onto a peaceful greenbelt. Professionally managed and move-in ready, the property offers a turnkey opportunity for investors looking to build long-term wealth. This is a prime investment opportunity, offering strong cash flow and professional management for a seamless ownership experience. Appraised at $830,000 in November 2024 following $120,000 in recent upgrades, this 4,520 sq ft property features four spacious townhome-style units. Fully leased, the units generate a projected annual gross income of $69,840 at full occupancy. With estimated expenses at 16% of gross income ($11,174.40), the property delivers a Net Operating Income (NOI) of $58,665.60 and an actual CAP rate of 7.52%, with a projected increase to 8%. Assuming a 6.3% interest rate on a 30-year loan, the annual debt service is approximately $43,424.52, resulting in a projected annual cash flow of $15,241.08. **No showings until the due diligence period. All units are occupied-please do not disturb tenants.** The seller is willing to negotiate an interest rate buy-down to improve cash flow.
Location
State GA
County Clayton
Rooms
Basement None
Interior
Heating Central,Heat Pump
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Pad
Garage Spaces 8.0
Community Features None
Utilities Available Other
View Y/N No
Total Parking Spaces 8
Garage No
Private Pool No
Building
Faces From I-75 S, take exit 235 to Tara Blvd. Turn right on GA-138 and right on GA-138 W. Then turn left on Kendrick Rd and right on Pineland Dr. Property will be on the right!
Sewer Public Sewer
Water Public
Structure Type Vinyl Siding
New Construction No
Schools
Elementary Schools Swint
Middle Schools Pointe South
High Schools Mundys Mill
Others
HOA Fee Include None
Tax ID 13244B F001
Special Listing Condition Updated/Remodeled