$1,315,000
323 S King AVE Pine Mountain, GA 31822
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Listed by John C. Lantz • Realty Hub of Georgia, LLC
$1,315,000
Est. payment /mo
1.17 Acres Lot
Under Contract
323 S King AVE Pine Mountain, GA 31822
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Under Contract
Purchase Type For Sale
MLS Listing ID 10336421
Construction Status Resale
HOA Y/N No
Year Built 1974
Annual Tax Amount $12,092
Tax Year 2023
Lot Size 1.170 Acres
Property Description
PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT - PLEASE DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT. All brick apartment community with 12 units. Four 3 Bedroom, 1 Bath units and Eight 2 Bedroom, 1 Bath Units. Located north of Columbus, 2 miles from Callaway Gardens. 100% occupancy. Walking distance to the Resort City of Pine Mountain. Some units recently updated with new flooring, new appliances, new plumbing, new light fixtures, and new HVAC systems. Nice porches in front and back of units. Each unit has a private storage closet (or 2). Washer/Dryer Connections. Plenty of off-street parking on-site. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA GaMLS#10336429; 506 N. 2nd Street, Lafayette, GA GaMLS#10336438; 372 Grier Street, Macon, GA GaMLS#10336401; 303 E. Lee Street, Thomaston, GA GaMLS#10336411; Total Portfolio Price = $4,385,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,534,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure. It may be possible to purchase this Property separate from the Portfolio. Please contact listing agent for details. Thank you for looking.
Location
State GA
County Harris
Rooms
Basement None
Interior
Heating Central
Cooling Central Air
Exterior
Garage Off Street
Community Features None
Utilities Available Electricity Individual Meters
Building
Story Two
Sewer Public Sewer
Level or Stories Two
Construction Status Resale
Schools
Elementary Schools Park
Middle Schools Harris County Carver
High Schools Harris County
Others
Acceptable Financing Owner 1st
Listing Terms Owner 1st
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