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2905 Springdale Rd, Atlanta, GA 30315

2905, Springdale Road Southwest, Egan Park, East Point, Fulton County, Georgia, 30315, United States of America
$3,200,000

Description

Project Descriptions

Purchase/Rehab Assumptions % of ARV
After-Repair Value (ARV) 5,760,000.00 56%
Purchase Price 3,200,000.00 19%
Rehab Costs 1,100,000.00 0%
Total Closing and Holding Costs 20,000.00 4%
Total Financing Costs 241,990.00 79%
Total Amount Financed 3,159,000.00
Total Cash Committed 1,402,990.00

 

Projected Results

Projected Monthly Rent (net of vacancy) 54,400.00
Projected Monthly Expenses 16,240.00
Projected Monthly Net Operating Income 38,160.00
Cap Rate Based on Cost Basis 10%
Cap Rate Based on ARV 8%
Assumed Time to Complete Rehab 12 Months
Assumed Time to Lease-Up 4 Months
Total Time Between Acquisition and Lease-Up 16 Months
Equity at End of Deal 2,601,000.00
Monthly Cash Flow (before tax) 24,997.50
Cash-on-Cash Return (before tax) 21.40%
DCR on Loan 2.9

 


Strategically located, New Village Apartment Homes is a 64 units renovation project, with remodeled apartment homes boasting spacious floor plans, featuring new kitchens, appliances, baths and much more. The ideal location allows for quick access to major highways, while only minutes away from Downtown Atlanta and the airport. This apartment complex is just minutes away from schools, medical facilities, shopping, and entertainment.


  • Address: 2905 Springdale Rd
  • City: Atlanta
  • State/county: Georgia
  • Zip/Postal Code: 30315
  • Country: United States

Detail

Updated on January 21, 2020 at 11:06 pm

  • Price: $3,200,000
  • Year Built: 1974
  • Property Type: Commercial
  • Property Status: Buy, For Sale

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