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  • $49,900
    •
    CHECK IF AVAILABLE
    CHECK IF AVAILABLE
  • 1 bedrooms
  • Apartment / Flat  1 bedroom
  • For Sale 
  • Decatur
  • united states Flag United States
Here`s an opportunity to buy into an established development by the river in Athens, Georgia, close to The University of Georgia, at a discounted price.

The community of 84 units were built in 1965, then converted into condominiums in 2007 and upgraded. Windows are double glazed, with new kitchen counters and cabinets and a new roof added in 2009. 7 of the units have been sold for between $79,900-$99,000, and now we have the remaining 77 units for sale.

At sale prices between $49,900 for the 1 bedroom, one bathroom unit, to $79,900 for the 3 bedroom, 2 bathroom units, here`s an opportunity to buy below replacement value, which has been appraised at $81,000 on average per unit.

The community is very attractive to renters and is running at 92% occupancy at present.

Available units:

1 bedroom, 1 bathroom - $630 a month rent - $49,900 sale price – Net return: 11.64%

2 bedroom, 1 bathroom - $712 a month rent - $59,900 – Net return: 11.12%

3 bedroom, 1.5 bathrooms - $880 a month rent - $74,900 – Net return: 11.03%

3 bedroom, 2 bathroom - $1179 rent a month - $79,900 – Net return: 10.99%

Considering the large amount of work that`s been done and the much higher reinstatement value, at these prices the units are great value for money.

For more information please contact us.
Here`s an opportunity to buy into an established development by the river in Athens, Georgia, close to The University of Georgia, at a discounted price.

The community of 84 units were built in 1965, then converted into condominiums in 2007 and upgraded. Windows are double glazed, with new kitchen counters and cabinets and a new roof added in...
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