2718 Miles Circle

Description

This triplex is located in a quickly growing part of East Point. Situated a few miles south of the Beltline, Wellstar East Point Health Center, and local schools. Conveniently next to a Chick-fil-a, Jefferson Park, & accessible Marta stops. This is a great opportunity to get into an area that has been on the rise! No showings until under contract. Great deal to increase rents on this property as current rents are under the market rate! Currently a 5% cap rate. Upside potential of 7% cap rate - with the potential increase of $600/month. Each unit can go up an additional $200/month. Current tenants are on a month to month lease. Roof is 10-years old and each unit has its own electricity meter. Annual Rent Revenue; $33,600/yr Property tax: $3,600/yr water/sewer currently covered by landlord, $3000/yr R&M/ Lawn : $2,400/yr Net Income: $27,600/yr, increased rents could net $34,080 - do not knock on door or walk around the property. Please do not approach or talk to tenant.