$270,000
$269,000
0.4%For more information regarding the value of a property, please contact us for a free consultation.
8 Beds
2 Baths
2,338 SqFt
SOLD DATE : 03/19/2024
Key Details
Sold Price $270,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Square Footage 2,338 sqft
Price per Sqft $115
Subdivision Heritage Valley
MLS Listing ID 7328537
Sold Date 03/19/24
Style Ranch
Bedrooms 8
Full Baths 2
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1960
Annual Tax Amount $1,659
Tax Year 2023
Lot Size 0.452 Acres
Acres 0.452
Property Sub-Type Single Family Residence
Property Description
Turnkey rental, fully leased at $5,500 per month in gross rental income ($67,000+ per year), this seasoned PadSplit coliving home in the City of Atlanta offers a unique combination of cash flow and turnkey management in a sought-after location. At a 14% cap rate with a leveraged ROI of 25%+, this is an unbeatable investment, sold As-Is! This home is in the beautiful Heritage Valley neighborhood, no HOA and close to interstates and major arterials, ensuring superb connectivity. The home is leased to one tenant, PadSplit, which hosts the property on their platform. PadSplit not only helps members save money and live closer to work but also provides an avenue for investors to achieve 3x+ cash flow. All members are professionally screened by PadSplit, required to pass a criminal background check and undergo income verification. PadSplit handles inbound requests from members and enforces house rules. One rent payment is direct-deposited into the owner's bank account based on the home's previous month's performance. Sold with an optional top-rated superhost who coordinates cleaning and repairs, this property is ideal for any investor, regardless of their capacity. In a time when cash flow is hard to find, this turnkey rental defies the odds. It doesn't just meet the '1% rule,' it blows it away. Contact us today for preferred lenders if you need financing. If PadSplit is new to you, please Google 'PadSplit' to learn more about this game-changing affordable housing solution.
Location
State GA
County Fulton
Lake Name None
Rooms
Bedroom Description Roommate Floor Plan
Other Rooms None
Basement None
Main Level Bedrooms 3
Dining Room None
Interior
Interior Features High Speed Internet
Heating Forced Air, Natural Gas
Cooling Central Air
Flooring Ceramic Tile, Laminate
Fireplaces Type None
Window Features None
Appliance Dishwasher, Electric Oven, Electric Range
Laundry Laundry Closet, Lower Level
Exterior
Exterior Feature Rain Gutters
Parking Features Carport, Covered
Fence Back Yard
Pool None
Community Features Near Shopping, Restaurant
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Waterfront Description None
View City
Roof Type Composition,Shingle
Street Surface Asphalt
Accessibility None
Handicap Access None
Porch None
Private Pool false
Building
Lot Description Back Yard, Front Yard
Story Multi/Split
Foundation Slab
Sewer Public Sewer
Water Public
Architectural Style Ranch
Level or Stories Multi/Split
Structure Type Brick 4 Sides,Vinyl Siding
New Construction No
Construction Status Resale
Schools
Elementary Schools R. N. Fickett
Middle Schools Ralph Bunche
High Schools D. M. Therrell
Others
Senior Community no
Restrictions false
Tax ID 14 025000040368
Ownership Fee Simple
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Financing no
Special Listing Condition None
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Bought with Local Realty GA, LLC
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
mark.galloway@galyangrouprealty.com
2302 Parklake Dr NE STE 220, Atlanta, Georgia, 30345, United States