Thursday, October 10, 2024 at 2:01 pm — Auction Site: The Exchange at 232 - 232 Glenn Milner Blvd, Rome, GA
ROME, FLOYD COUNTY, GA
(2) Income Producing Duplexes located at 95 A/B and 97 A/B North Ridge Court
ALL PROPERTY to be SOLD from the EXCHANGE at DEMPSEY AUCTION COMPANY, 232 GLENN MILNER BLVD, ROME, GA
Investment Opportunity: Dual Income-Producing Duplexes in Rome, Floyd County, GA (K12Z 089):
Presenting a lucrative investment opportunity in Rome, GA with two fully occupied duplexes located at 95 A/B and 97 A/B North Ridge Court. These properties offer stable rental income with excellent maintenance records and several recent upgrades, making them an appealing option for investors seeking to expand their portfolios.
Property Details:
- Lot Size: The duplexes are positioned on a 1.7-acre lot, offering ample space and privacy for tenants.
- Units: Each duplex features two large bedrooms, one bathroom with a tub/shower combo, a living room, and a kitchen equipped with a stove, refrigerator, and dishwasher. Each unit also includes a breakfast area and laundry room.
- Location: Situated in a desirable residential area within the Model School District.
- Utilities: Each building is serviced by individual septic systems with access to water, natural gas, cable, and high-speed internet.
- Property Taxes: $3,274 for 2023.
- Total Combined Rents: $2,630 per month
- Zoning: Property Zoned SR (Suburban Residential)
Notable Features and Upgrades:
- Windows in both duplexes were replaced with vinyl, double-hung models in 2018.
- Roofs on both duplexes were fully replaced in 2012 with durable architectural asphalt shingle.
- Exterior spaces include concrete patios for units 95A and 95B, and pressure-treated decks for units 97A and 97B.
- Flooring in the units is:
- 95A: LVP vinyl plank in all rooms, installed in 2019
- 95B: LVP vinyl plank in all rooms, installed in 2018
- 97A: LVP vinyl plank in all rooms, installed in 2023. This unit had a complete remodel in 2023 to include: new interior doors, toilet, vanity, mirror, appliances countertops, etc.
- 97B: Hardwood laminate in all rooms except for bathroom and kitchen, which have ceramic tile. Installed in 2017
Income Details:
- 95A: Current rent is $505.00 per month. Lease began 3/11/2005 and is currently month-to-month
- 95B: Current rent is $625.00 per month. Lease began 6/19/2019 and is currently month-to-month
- 97A: Current rent is $875.00 per month. Lease began 10/6/2023 and is locked until 10/6/2024, then reverts to month-to-month
- 97B: Current rent is $625.00 per month. Lease began 11/5/1018 and is currently month-to-month
Investment Highlights: These duplexes represent a significant investment with consistent cash flow and minimal vacancy risks. The recent upgrades and long-term tenancies provide a stable investment that can continue to appreciate in value. Located in a community-oriented neighborhood and within a strong school district, these properties attract long-term residents.
Whether you’re a seasoned investor looking to diversify your real estate holdings or a new investor seeking a reliable entry point into the rental market, these duplexes in Rome, GA, offer a compelling opportunity with proven performance and potential for future growth.
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