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2718 Miles CIR East Point, GA 30344
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Key Details
Sold Price $320,000
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Sold
Purchase Type For Sale
Subdivision River Park
MLS Listing ID 7209939
Sold Date 11/21/23
Style Traditional
Bedrooms 5
Full Baths 3
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1950
Annual Tax Amount $3,499
Tax Year 2022
Lot Size 0.330 Acres
Acres 0.33
Property Description
Rentals are in high demand and this triplex is located in a quickly growing part of East Point. Situated a few miles south of the Beltline, Wellstar East Point Health Center, and local schools. Conveniently next to a Chick-fil-a, Jefferson Park, & accessible Marta stops. This is a great opportunity to get into an area that has been on the rise!
Several brand new upgrades to the property including a brand new roof and hardy plank siding. New paint on ext. and new gutter/downspouts. Interior upgrades include new shower plumbing and floor joists.
Great deal to increase rents on this property as current rents are under the market rate! Upside potential of 7% cap rate - with the potential increase of $600/month. Each unit can go up an additional $200+/month. Current tenants are on a month to month lease and each unit has its own electricity meter. Annual Rent Revenue; $33,600/yr Property tax: $3,600/yr water/sewer currently covered by landlord, $3000/yr R&M/ Lawn : $2,400/yr Net Income: $27,600/yr, increased rents could net $34,080.
Location
State GA
County Fulton
Lake Name None
Rooms
Bedroom Description Roommate Floor Plan
Other Rooms None
Basement Exterior Entry, Finished, Finished Bath, Full
Main Level Bedrooms 4
Dining Room None
Interior
Interior Features High Ceilings, High Ceilings 9 ft Lower, High Ceilings 9 ft Main
Heating Natural Gas
Cooling Central Air
Flooring Hardwood
Fireplaces Type None
Window Features Insulated Windows
Appliance Dryer, Refrigerator, Washer
Laundry Other
Exterior
Exterior Feature None
Parking Features Level Driveway, On Street
Fence Back Yard
Pool None
Community Features None
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Waterfront Description None
View City
Roof Type Composition
Street Surface Asphalt
Accessibility None
Handicap Access None
Porch None
Private Pool false
Building
Lot Description Corner Lot
Story Two
Foundation Block
Sewer Public Sewer
Water Public
Architectural Style Traditional
Level or Stories Two
Structure Type Other
New Construction No
Construction Status Resale
Schools
Elementary Schools Parklane
Middle Schools Paul D. West
High Schools Tri-Cities
Others
Senior Community no
Restrictions false
Tax ID 14 012500030214
Ownership Fee Simple
Financing no
Special Listing Condition None
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Bought with Compass