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Home For Sale

Picture of Home For Sale in Toccoa, Georgia, United States

$800,000

Sisk Rd
Toccoa, Georgia, United States

Listed By: Realtyww Info

Listed On: 05/04/2023

Listing ID: GL10636229 View More Details

Description

STAKE YOUR CLAIM with this 8 unit rental community on 11+ sprawling acres with plenty of room to grow with city approval to install 4 units per acre with acceptable soil testing for septic. Situated in between Ga Hwy 17, Historic 17, and Sisk Rd, this property has ingress and egress access to ALL 3 roads with almost 1, 600 ft of road frontage. As a bonus, the West property line adjoins North Georgia Technical College. Each unit is meticulously maintained with individual electrical meters and septic tanks with community water (public) and 3rd party trash service provided by the owner. History of long term renters who collectively keep their own outdoor scapes maintained and free from clutter. CAP w/ latest rent increase and 95% occupancy at 5.62% is reflected by rents that are still well below market. Pro-forma CAP of 8.20+% is easily obtained with additional marketing and increasing rents just shy of market to remain extremely competitive and occupancy high. 12 minute drive to I-85 (Lavonia) and 13 minute drive to Historic Downtown Toccoa. This property is located in a tri-county region with extremely low inventory of fee simple and rental housing with current market rents for 2/2, 3/2 at $900-$1, 500, SO DO IT TODAY AND NOT SOMEDAY and schedule your property tour today.

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Listed by: Living Down South Realty
Source: The World Property Journal

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