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34386406
34386732

829 North Hill Street, Griffin, GA 30223 For Sale

CK
GA GA 408600, CA CA 3417384
Matthews
AG
GA 3421373
Matthews
Listed by Matthews
$7,835,000
7 days on market
Updated 7 days ago

St. Phillip Villas

Details
Property Type Retail, Multifamily
Square Footage 70,575
Net Rentable (SqFt) 70,575
Units 60
Cap Rate 8.29%
NOI $649,542
Price per SqFt $111
Year Built 2001
Acreage 5.980
Ground Lease No

60-Unit Value-Add Multifamily Opportunity Just 40 Miles South of Atlanta

Investment highlights

• Garden-style multifamily community with large floor plans and a family-oriented unit mix.

• Brand New Pickleball Court, Gazebo, Fire Pit, Outdoor Grilling area & Playground.

• Central HVAC – 20 New Units

• Electric & Gas – Individually Metered Copper wiring

• Water – Master Metered PVC Plumbing Each Unit has its own Water Heater. Exact ages are difficult to predict, but 10 water heaters have been replaced recently.

• Roofs: 6 years old.

• 23-Units are fully upgraded with New Stainless-Steel Appliances, Washer/Dryers, LVP Flooring, and New Paint. 11-Units are partially upgraded.

• All Units have Washer/Dryer Hookups. Owner owns the W/D machines inside the 23 renovated units. These rent for $50/month in addition to the rent.

• All Units have a Private Patio/Balcony with a private storage closet.

• No Affordable Housing restrictions. 7 Units are currently occupied by Section 8 voucher tenants.

• Opportunity to capture rent growth through renewals and mark-to-market upside while maintaining a competitive rent point relative to larger South Atlanta suburbs.

• Attractive basis relative to replacement cost given 2001 vintage construction, large unit sizes, and land coverage below many infill garden-style assets.

Listing Contacts

CK
GA GA 408600, CA CA 3417384
Matthews
AG
GA 3421373
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$649,542.00
$54,128.50/mo

Valuation Metrics

0
DSCR
8.29%
Cap Rate
8.29%
ROI

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Additional Information

Name
Maxx Bauman
License
451849, 80041 (GA)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
3060 Peachtree Rd NW, Ste 1450, Atlanta, GA 30305
Name
Connor Kerns
License
GA 408600
Brokerage
Matthews
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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