Property Type: Single Family
Sq Ft: 1136
Another opportunity by Mozley Park and West Lake MARTA station. Convenient access to westside beltline, transit, and quarry park. Pedestrian bridge over railroad tracks at end of Holly Rd is a short walk from this house into Mozley Park. From there walk the Lionel Hampton Trail to Washington Park and the Westside Beltline.
Good cash flow in steadily improving area. Top notch rehab starting down the street (#1627) which will help bring values up. 1641 Ezra Church recently sold for $75,000.
3 beds/2 baths upstairs. Half bath and full unfinished basement underneath.
House is overcome by vines. Will need significant vegetation clearing, roof, hvac, and full interior rehab. At $30/ft, rehab budget is $34,080.
Rentometer average rents are $875/mo for 3 bed. AHA recently provided rent estimate of $940/mo.
At $900/mo gross ROI estimate is 15%:
Annualized Rent $10,800.00
Purchase Price $25,000.00
Total Investment $59,080.00
CAP RATE 15.4%
With improving values in the area and these in-progress or recent rehabs, you could even flip this for a nice profit with the right rehab and marketing.
- 2058 Chicago (1272 sq.ft.) renovated under contract for $160k
- 1447 Akridge (2372 sq.ft.) being renovated with post-renovation appraisal of $180k
- 400 Illinois (1567 sq.ft.) being renovated with post-renovation appraisal at $170k
- 1627 Ezra Church (just starting rehab)
More pictures: https://www.dropbox.com/sh/unexlzfv44a7thu/AAC8fGEcs1Oaklx0SnJIFbpna?dl=0
Call Jeff for access @ 678-809-5588