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Covington,GA 30016
Key Details
Property Type Multi-Family
Sub Type Multi Family,Quadruplex
Listing Status New
Purchase Type For Sale
MLS Listing ID 10571552
Year Built 1995
Annual Tax Amount $615
Tax Year 2023
Lot Size 2.450 Acres
Property Sub-Type Multi Family,Quadruplex
Property Description
Discover a remarkable investment opportunity on this expansive 2.45-acre property, ideally suited for investors and builders alike. This estate features three income-generating units, providing a steady revenue stream. The highlight is a beautifully remodeled 2-bedroom, 1-bath unit that boasts modern finishes and inviting living spaces. The other two units have been thoughtfully updated, offering half-remodeled spaces filled with potential. Additional value comes from a full basement that presents various possibilities, whether for additional storage or further rental opportunities, maximizing your income potential. The property offers ample space for parking, accommodating multiple cars, trucks, trailers, and more. Recent upgrades include a new roof installed in 2022 and a brand-new water heater, ensuring peace of mind for both you and your tenants. The septic system was serviced in March 2024, adding to the property's appeal. Monthly utilities are attractively low, with water at $100, cable and internet for $90, and electricity averaging $250, all conveniently bundled in the rent. The investment is solid, with a 3-bedroom unit securely leased until January 2026 for $1,400, and a well-appointed 2-bedroom unit with a lease ending the same month at $1,200. The land's versatility allows for a wide array of income-generating possibilities, further enhanced by the full basement that could be rented out to businesses in need of storage space. The seller is motivated and ready to entertain offers. Don't miss out on the chance to unlock the full potential of this property!
Location
State GA
County Newton
Interior
Heating Other
Cooling Electric,Window Unit(s)
Exterior
Parking Features Assigned
Community Features None
Utilities Available Electricity Billing Prorated
View Y/N No
Building
Sewer Public Sewer
Water Public
Structure Type Block,Stone Frame
New Construction No
Schools
Elementary Schools Out Of Area
Middle Schools Other
High Schools Out Of Area
Others
Special Listing Condition Resale