Pending
Under Contract
122 Toby Springs Lane
Mcdonough GA, 30253
$775,000
Pending
Under Contract
Multi-family
Built in 1986
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.
10453350
MLSⓇ ID
February 5, 2025
Listed
March 10, 2025
Updated
Interior Features
Total Stories
2
Fireplace
Yes
Cooling
Yes
Cooling Description
Ceiling Fan(s), Central Air
Heating
Yes
Heating Description
Forced Air, Natural Gas
Exterior/Building Features
Lot Size
0.57 Acres
Sewer
Public Sewer
School Information
High School
McDonough
Elementary School
Walnut Creek
Other Property Details
Taxes
$7,007
Tax Frequency
Annually
Days on Market
33
Garage
No
Parking
Off Street
Parking Total
8
View
No
County
Henry
Water Source
Public
Utilities
Other
Listing History
Date | Event | Price |
---|---|---|
3/10/2025 | Pending | — |
Listed with Keller Williams Rlty-Atl.North
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Data last updated 2:08 PM UTC, 3/10/2025