1. Georgia
  2. Mcdonough
  3. 122 Toby Springs Lane
$765,000

122 Toby Springs Lane, Mcdonough, GA 30253

  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1986
  • Property Lot Size Icon0.57acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $——/sqft
  • Property List Date Icon Listed 5 months ago

Property Description

This updated quadruplex is a rare gem, offering impressive returns and a prime location that sets it apart in the investment market. Appraised at $850,000 following a $120,000 rehab completed within the last 14 months, this 5,192 sqft property boasts a strong CAP rate of 7.78%. Assuming a 6.3% interest rate and full occupancy, the property can generate a combined projected annual gross income of $71,736. With an estimated annual expense rate of 16% of gross income ($11,477.76), the property delivers a Net Operating Income (NOI) of $60,258.24. Projected growth and cap rate: leased on full occupancy rents at $1,850 you will have a cap rate of 9.63% and a positive annual cash flow of $31,418.61. The building features four well-designed units - two with 3 bedrooms and 2.5 baths, and two with 2 bedrooms and 2.5 baths. Each unit is thoughtfully appointed with modern kitchen appliances, spacious living rooms, and recently poured concrete private patios with a storage closet overlooking a large shared yard. The property also includes dedicated parking pads for added tenant convenience. Located less than a mile from downtown McDonough and 2.5 miles from I-75, this home is in a prime location. This quadruplex stands out as a prime investment opportunity, combining modern updates, tenant-paid utilities, and a strategic location to deliver consistent income and strong financial growth - an ideal choice for expanding your portfolio. ***No showings until due diligence period. All units are occupied. Please do not disturb tenants.*** Seller is willing to buy down rate with an acceptable offer.

Listing Status:
Pending
Date Added:
February 5, 2025 at 06:00AM
Listing Office:
Keller Williams Realty Atl North : 770-509-0700
Listing Agent:
JANICE OVERBECK : 404-800-3159
MLS ID:
7519114

This listing courtesy of JANICE OVERBECK, Keller Williams Realty Atl North

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

W

Walnut Creek Elementary School

3535 McDonough Pkwy, McDonough, GA, 30253

Grades KG-5

1.50 miles away

M

McDonough Middle School

175 Postmaster Dr, McDonough, GA, 30253

Grades 6-8

1.47 miles away

M

McDonough High School

155 Postmaster Dr, McDonough, GA, 30253

Grades 9-12

1.13 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.