Villas At THomas Road | 8373 Thomas Rd
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Villas At THomas Road 8373 Thomas Rd
16 Unit Block of Flats £2,349,900 (£146,869/Unit) 5.22% Net Initial Yield Jonesboro, GA 30238
Investment Highlights
- Investment - Value Add Opportunity
- Strong 87.5% occupancy rate
- Assumable Debt $1.49MM, 3.22%
Executive Summary
Introducing The Villas at Thomas Road
This 16-unit multifamily property in Jonesboro, GA, is a prime investment opportunity in the heart of Atlanta. Built in 2001 with half the units recently renovated in 2023, this well-maintained asset offers a compelling blend of modernity and durability.
Key Features:
Strong Performance: Currently boasting an 87.5% occupancy rate, this property demonstrates its appeal to tenants.
Prime Location: Situated in a sought-after area for multifamily properties, the location offers a balance of city convenience and suburban tranquility.
Nearby Amenities: Residents have easy access to Southlake Mall, Clayton State University, and Lake Spivey Golf Club, providing ample shopping, entertainment, and recreational options.
Excellent Connectivity: Proximity to major highways and public transportation ensures easy commuting and urban exploration.
Investment Potential: With its strong occupancy rate, well-maintained facilities, and prime location in a thriving market, this property presents a solid investment opportunity with potential for continued growth. Don't miss the chance to add this standout asset to your portfolio and capitalize on the thriving Atlanta market.
This 16-unit multifamily property in Jonesboro, GA, is a prime investment opportunity in the heart of Atlanta. Built in 2001 with half the units recently renovated in 2023, this well-maintained asset offers a compelling blend of modernity and durability.
Key Features:
Strong Performance: Currently boasting an 87.5% occupancy rate, this property demonstrates its appeal to tenants.
Prime Location: Situated in a sought-after area for multifamily properties, the location offers a balance of city convenience and suburban tranquility.
Nearby Amenities: Residents have easy access to Southlake Mall, Clayton State University, and Lake Spivey Golf Club, providing ample shopping, entertainment, and recreational options.
Excellent Connectivity: Proximity to major highways and public transportation ensures easy commuting and urban exploration.
Investment Potential: With its strong occupancy rate, well-maintained facilities, and prime location in a thriving market, this property presents a solid investment opportunity with potential for continued growth. Don't miss the chance to add this standout asset to your portfolio and capitalize on the thriving Atlanta market.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£203,866
|
£11.08
|
| Other Income |
-
|
-
|
| Vacancy Loss |
£16,513
|
£0.90
|
| Effective Gross Income |
£187,353
|
£10.18
|
| Taxes |
£17,471
|
£0.95
|
| Operating Expenses |
£47,221
|
£2.57
|
| Total Expenses |
£64,692
|
£3.52
|
| Net Operating Income |
£122,661
|
£6.67
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £203,866 |
| Annual Per SF | £11.08 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | £16,513 |
| Annual Per SF | £0.90 |
| Effective Gross Income | |
|---|---|
| Annual | £187,353 |
| Annual Per SF | £10.18 |
| Taxes | |
|---|---|
| Annual | £17,471 |
| Annual Per SF | £0.95 |
| Operating Expenses | |
|---|---|
| Annual | £47,221 |
| Annual Per SF | £2.57 |
| Total Expenses | |
|---|---|
| Annual | £64,692 |
| Annual Per SF | £3.52 |
| Net Operating Income | |
|---|---|
| Annual | £122,661 |
| Annual Per SF | £6.67 |
Property Facts
| Price | £2,349,900 | Building Class | B |
| Price Per Unit | £146,869 | Lot Size | 1.96 AC |
| Sale Type | Investment | Building Size | 18,400 SF |
| Net Initial Yield | 5.22% | Average Occupancy | 81% |
| No. Units | 16 | Number of Floors | 2 |
| Property Type | Residential | Year Built/Renovated | 2001/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.74/1,000 SF |
| Apartment Style | Garden |
| Price | £2,349,900 |
| Price Per Unit | £146,869 |
| Sale Type | Investment |
| Net Initial Yield | 5.22% |
| No. Units | 16 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.96 AC |
| Building Size | 18,400 SF |
| Average Occupancy | 81% |
| Number of Floors | 2 |
| Year Built/Renovated | 2001/2023 |
| Parking Ratio | 1.74/1,000 SF |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Storage Space
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Kitchen
- Wooden Floors
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Carpet
- Deck
- Double Pane Windows
- Freezer
- Patio
Site Amenities
- Courtyard
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 3+2 | 16 | £1,233 | 1,434 |
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PROPERTY TAXES
| Parcel Number | 13-0247C-00A-005 | Total Assessment | £42,361 |
| Land Assessment | £30,705 | Annual Taxes | £17,471 (£0.95/sf) |
| Improvements Assessment | £11,656 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
13-0247C-00A-005
Land Assessment
£30,705
Improvements Assessment
£11,656
Total Assessment
£42,361
Annual Taxes
£17,471 (£0.95/sf)
Tax Year
2024
zoning
| Zoning Code | C (Commercial - Residential property) |
| C (Commercial - Residential property) |
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Villas At THomas Road | 8373 Thomas Rd
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