Sold

122 Toby Springs Lane, Mcdonough, GA 30253

View property features, location on map, relevant school information and overview from seller's agent.

Listed byKeller Williams Realty Atl North
  • 4
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Overview

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.

Location

Full feature list

Basic info

Lot size (acres)
0.57
Year built
1986

Utilities

Heating
Forced air, Natural gas
Cooling
Ceiling fan(s), Central air
Sewer
Public sewer
Water
Public

Taxes

Tax Annual Amount (2024)
$7,007

Public schools

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Sourced from: First Multiple Listing Service (FMLS) MLS®#: 7519114 Last checked:

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