122 Toby Springs LN Save Request In-Person Tour Request Virtual Tour
Mcdonough,GA 30253
Key Details
Property Type Multi-Family
Sub Type Multi Family,Quadruplex
Listing Status Active Under Contract
Purchase Type For Sale
Subdivision Toby Springs
MLS Listing ID 10453350
HOA Y/N No
Year Built 1986
Annual Tax Amount $7,007
Tax Year 2024
Lot Size 0.570 Acres
Acres 0.57
Lot Dimensions 24829.2
Property Sub-Type Multi Family,Quadruplex
Source Georgia MLS 2
Property Description
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
State GA
County Henry
Rooms
Basement None
Interior
Heating Forced Air,Natural Gas
Cooling Ceiling Fan(s),Central Air
Fireplaces Number 4
Fireplace Yes
Exterior
Parking Features Off Street
Garage Spaces 8.0
Community Features None
Utilities Available Other
View Y/N No
Total Parking Spaces 8
Garage No
Private Pool No
Building
Faces From I-75 S, take exit 221 and turn left on Fayetteville Rd/Jonesboro Rd. Then take the second exit at the traffic circle to a right on Geranium Dr. Turn right on Toby Springs Connector and right on Toby Springs Ln. The property will be on the right.
Sewer Public Sewer
Water Public
Structure Type Stone Frame
New Construction No
Schools
Elementary Schools Walnut Creek
Middle Schools Mcdonough Middle
High Schools Mcdonough
Others
HOA Fee Include None
Tax ID M0909026000
Special Listing Condition Resale
Virtual Tour https://my.matterport.com/show/?m=yuwkLiQpJUA&brand=0