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Engel & Völkers Atlanta

atlanta@evatlanta.com +1(404) 845-7724

$ 715,000

Est. payment -/mo

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Pending

2638 Fieldstone View LN SE Conyers, GA 30013

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family,Quadruplex

Listing Status Pending

Purchase Type For Sale

Subdivision Fieldstone View

MLS Listing ID 10453336

HOA Y/N No

Originating Board Georgia MLS 2

Year Built 1982

Annual Tax Amount $8,828

Tax Year 2023

Lot Size 0.490 Acres

Acres 0.49

Lot Dimensions 21344.4

Property Sub-Type Multi Family,Quadruplex

Property Description

This fully renovated quadruplex in Conyers presents an exceptional investment opportunity, boasting a strong CAP rate of 7.56%. Appraised at $855,000 after $120,000 in renovations completed in early 2024, the property spans an impressive 5,334 square feet. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected monthly income of $5,360 and an annual gross income of $64,320. With an estimated annual expense rate of 16% of gross income ($10,291.20), the property delivers a Net Operating Income (NOI) of $54,028.80. Projected Growth and cap rate: leased on full occupany rents at $1,600 you will have a cap rate of 9.02% and a positive annual cash flow of $24,720. Recent upgrades include all-new or recently serviced AC units with a minimum life expectancy of seven years, ensuring low maintenance costs for years to come. The building features four well-designed units - two with 3 bedrooms and 2 baths, and two with 2 bedrooms and 2 baths. Each unit is thoughtfully appointed with modern kitchen appliances, spacious living rooms, and private patios overlooking a large shared yard. The property also offers private parking pads and backs onto a tranquil greenbelt, providing a peaceful environment that is highly attractive to tenants. Located just 12 minutes' drive from the newly established Archer Aerospace and Rivian manufacturing plant, which are collectively adding over 8,000 jobs to the area, the property benefits from robust tenant demand and growth in the local rental market. The combination of recent renovations, tenant-covered utilities, and a prime location makes this property a lucrative addition to any investment portfolio. Offering steady cash flow and long-term wealth-building potential, this high-performing investment property! ***No showings until due diligence period. All units are occupied. Please do not disturb tenants.*** Seller is willing to buy down rate with an acceptable offer.

Location

State GA

County Rockdale

Rooms

Basement None

Interior

Heating Central, Forced Air, Natural Gas

Cooling Central Air

Fireplace No

Exterior

Parking Features Off Street

Garage Spaces 4.0

Community Features Park, Walk To Schools, Near Shopping

Utilities Available Electricity Individual Meters, Gas Individual Meters, Water Individual Meters

View Y/N No

Total Parking Spaces 4

Garage No

Private Pool No

Building

Faces From I-20 E, take exit 84 and turn right onto GA-162 S. Then turn right onto Golfview Drive SE and left onto Fieldstone View Lane SE. Property will be on the right!

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

New Construction No

Schools

Elementary Schools Peeks Chapel

Middle Schools Memorial

High Schools Salem

Others

HOA Fee Include None

Tax ID 077A010079

Special Listing Condition Resale

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Engel & Völkers Atlanta

+1(404) 845-7724

Engel & Völkers Atlanta

2638 Fieldstone View LN SE Conyers, GA 30013

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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2638 Fieldstone View LN SE