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$3,485,000

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3 Acres Lot

Active

1204 Lakeview DR NW Conyers, GA 30012

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Sherry Ajluni

sherry@sherryteam.com +1(678) 283-1710

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 10496333

HOA Y/N No

Year Built 1968

Annual Tax Amount $17,303

Tax Year 2024

Lot Size 3.000 Acres

Acres 3.0

Lot Dimensions 3

Property Sub-Type Multi Family

Source Georgia MLS 2

Property Description

Discover an Unbeatable Opportunity at RIVERA PARK Apartment Homes! Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity thatCOs ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors. With rents currently under market at just $1200 and 4 units vacant, thereCOs a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the propertyCOs excess land presents multiple value-creation possibilities, from development opportunities to further enhancements. This 24-unit building features exclusively spacious 2-bed, 1-bath units, each a generous 900 sqft, known for their ease of leasing, low maintenance needs, and strong demand. These units practically lease themselves and are highly sought after by renters! In 2023, the property underwent a transformative $800k+ renovation, elevating the interiors, exterior, landscaping, parking lot, and amenities, as well as adding a modern onsite office. The upgrades have made this property even more attractive, enhancing its long-term value. Priced to Sell at $3,485,000, with a recent appraisal of $4,292,905, this asset offers investors a golden opportunity to walk into instant equity. Key Highlights: * 7.6% Going-In Cap Rate * 8.8% Stabilized Cap Rate * 10%+ Cash-on-Cash Return DonCOt miss out on this rare chance to capitalize on a property that blends immediate cash flow with huge growth potential. This is a must-see for any investor looking for a smart, high-reward acquisition!

Location

State GA

County Rockdale

Rooms

Basement None

Interior

Heating Central

Cooling Ceiling Fan(s), Central Air

Fireplace No

Exterior

Parking Features Assigned

Garage Spaces 33.0

Community Features Clubhouse, Park, Playground, Sidewalks, Near Public Transport, Walk To Schools, Near Shopping

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

View Y/N No

Total Parking Spaces 33

Garage No

Private Pool No

Building

Faces FROM CITY: 85south to 20 East Take exit 80 toward West Ave./Conyers onto Klondike Rd SW. Go for 0.8 mi. Then 0.8 mi Continue on Almand St NW. Go for 0.1 mi. Then 0.1 mi Turn slightly right onto Rosser St NW. Go for 433 ft. Then 0.08 mi Turn left onto N Main St NW. Go for 0.2 mi. Then 0.2

Sewer Public Sewer

Water Public

Structure Type Brick

New Construction No

Schools

Elementary Schools Flat Shoals

Middle Schools Conyers

High Schools Rockdale County

Others

HOA Fee Include None

Tax ID C070010026

Special Listing Condition Updated/Remodeled

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Sherry Ajluni

Team Leader | License ID: 289349

+1(678) 283-1710

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1204 Lakeview DR NW Conyers, GA 30012

Sherry Ajluni

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1204 Lakeview DR NW