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1001 Hideaway,
Valdosta, GA 31602

$649,900 MLS: 101127

Great investment opportunity, 24 unit 1 bedroom 1 bath total electric apartment complex. Owner spent nearly $300,000 doing extensive renovations in 2011. Currently only 3 vacancies, one unit is occupied by property manager paying no rent and another is occupied by the maintenance/grounds keeper paying only $155.00 per month. Current annual income is $82,440. There is an additional 4 unit complex located on .35 acres of the property which needs to be demolished and there's also a .69 acre adjoining lot which can be purchased (mls#101144). This will allow for addition units to be constructed adding to the income stream. Take out taxes and insurance and youre above a 10% CAP now with still plenty of upside potential. This could be a real money maker.
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