Lafayette, GA 30728,506 N. 2nd Street
Lafayette, GA 30728,506 N. 2nd Street
Lafayette, GA 30728,506 N. 2nd Street
33
Listed by John C. Lantz • Realty Hub of Georgia, LLC
Bought with John C. Lantz • Realty Hub of Georgia, LLC
$785,000
$925,000
15.1%
Est.Price: ?

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1 Acres Lot

506 N. 2nd Street Lafayette, GA 30728

Est. payment /mo
SOLD DATE : 10/31/2024

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Key Details

Sold Price $785,000

Property Type Single Family Home

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 10336438

Sold Date 10/31/24

Construction Status Resale

HOA Y/N No

Year Built 1975

Annual Tax Amount $1,284

Tax Year 2015

Lot Size 1.000 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. Four apartment buildings - 2 duplexes and 2 triplexes. These units are located together on one parcel. Building A (215 W. Indiana Street) includes two 3 bedroom, 1.5 bath units and one 1 bedroom, 1 bath efficiency. Building B (510 N. 2nd St.) has two 2 bedroom, one bath units. Building C (508 N. 2nd St.) has two 1 Bedroom, 1 bath units. Building D (506 N. 2nd St.) has two 2 bedroom 1 bath Townhouses with a 1 bedroom, 1 bath efficiency on the terrace level. Ten units in total with 4 different buildings on nice lot. 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; 323 S. King Ave., Pine Mountain, GA GaMLS#10336421; 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 Walker

Rooms

Basement None

Interior

Heating Central

Cooling Central Air

Exterior

Parking Features 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 North Lafayette

Middle Schools Lafayette

High Schools Lafayette

Others

Acceptable Financing Owner 1st

Listing Terms Owner 1st

Financing Other

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Georgia MLS (GAMLS)

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agent

Michael Stansky

Agent | License ID: 403637

+1(706) 309-0448

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