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Key Details
Sold Price $850,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Subdivision Mechanicsville
MLS Listing ID 6118889
Sold Date 05/03/19
Originating Board FMLS API
Year Built 1960
Annual Tax Amount $6,187
Tax Year 2007
Lot Size 0.500 Acres
Property Description
AWESOME investment opportunity! Both 720 and 728 Formwalt are being sold together. These are 1950's brick buildings needing full renovation. Opportunity to earn $1300 - $1400 monthly/unit in rents! There are a total of 16 units with both buildings just waiting on the savvy investor to snag them up. Both communities are on a little over half an acre. Renovate and collect rent for years to come or assemble the lots for a larger project. Zoning is SPI-18 SA4 and other apartment buildings in the area are listed around $120k/unit. Close to GA State and a resurgent downtown.
Location
State GA
County Fulton
Interior
Heating Natural Gas
Cooling None
Exterior
Parking Features Varies by Unit
Fence None
Community Features Street Lights
Utilities Available None
Waterfront Description None
View Other
Roof Type Composition
Building
Lot Description Level
Sewer Public Sewer
Water Public
New Construction No
Schools
Elementary Schools Dunbar
Middle Schools King
High Schools Maynard H. Jackson, Jr.
Others
Senior Community no
Special Listing Condition None
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