1014 S Gordon Ave Adel, GA 31620

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Solid investment for 32 doors with larger units and proven rental history in Adel, GA. 8 brick buildings containing Four 2BR/1BA units each. 960 sq ft per unit consists of big bedrooms and bathroom, separate LR, dining and kitchen spaces. Walk-in closets, W/D hookups, individually metered for power / water, totally electric. Units separated by common breeze way for entry to limit neighbor noise. Sellers have updated more than 1/2 of the units with new tops, fixtures, paint, flooring, appliances, etc as needed when the units turn. Average rent is $715/month currently with all below market tenants getting bumped to $750 effective 04/01/2024. Market rents trending to $800/month with units leasing up as soon as they turn. 5.24 acre site allows for plenty of greenspace and potential additional development with shared parking already in place. Adel is small-town market but has pro-growth vision and leadership. Turnkey income in place, $750/month rent with 35% operating expense factor is with 9.72% proforma cap rate.