

Property Attributes
- MLS#118923
- TypeLand
- CountyLOWNDES
- CityValdosta
- Area2-N of Park Ave to E Oak St
- NeighborhoodJo Ree
- Zip31602
- StyleResidential
- Taxes300
- Price$ 124,900
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Lot Size1.4 Acres
Listing Provided Courtesy Of:
NAI Commercial Realty Advisors
Property Description
Approved 5 lot planned dev of a quality (townhome style with 1 car garage) project consisting of 5 duplex buildings for a total of 10 units on 5 separate lots. This will allow them to be sold separately or remain together under one owner. Currently two parcels consisting of a .334 Acre and a 1.061 Acre for a total of 1.395 AC. Lots will have a shared driveway easement (please see site plan). Low maintenance designed plan to view in documents. Each side of the duplex 3/2 will contain 1008 heated sf and a 235 sf single car garage. Projected Proforma Cash Flow Statement at $895 rent per new unit with owner providing pest control and lawn service with rent plus allowing 29% expense ratio (new construction should be much lower) would yield a overall project cap rate on the 10 units of a solid 8.5-9% CAP RATE. (Proforma used 24K lot cost and 155k construction on each duplex.)
Price History | |
---|---|
11/23/2020 | Listed $124,900 |
General Features
Foreclosure | Not Applicable |
---|---|
Land Type | Residential |
Exterior Features
Acreage | 1.3960 |
---|---|
Improvements | Curb, Street Gutter, Other-See Remarks |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Master On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool