323 S King Ave

Pine Mountain, GA 31822

PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT - PLEASE DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT. All brick apartment community with 12 units. Four 3 Bedroom, 1 Bath units and Eight 2 Bedroom, 1 Bath Units. Located north of Columbus, 2 miles from Callaway Gardens. 100% occupancy. Walking distance to the Resort City of Pine Mountain. Some units recently updated with new flooring, new appliances, new plumbing, new light fixtures, and new HVAC systems. Nice porches in front and back of units. Each unit has a private storage closet (or 2). Washer/Dryer Connections. Plenty of off-street parking on-site. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA GaMLS#10336429; 506 N. 2nd Street, Lafayette, GA GaMLS#10336438; 372 Grier Street, Macon, GA GaMLS#10336401; 303 E. Lee Street, Thomaston, GA GaMLS#10336411; Total Portfolio Price = $4,385,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,534,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure. It may be possible to purchase this Property separate from the Portfolio. Please contact listing agent for details. Thank you for looking.