All Forum Posts by: GioVanni Gibbs

5.76 acres of raw land for sale in Gwinnett County. Located off the Duluth Hwy. Great location for Hotel and restaurant. 

FACTS

• Lot: 8.2 acres
• Single Family
• Built in 1964
• Zoned R-15

• Cooling: Central
• Heating: Other

FEATURES

• Deck
• Finished basement, 850 sqft
• Fireplace

• Parking: Garage - Attached, 1 space, 264 sqft
• Pool
• Pond in front of the home
• Guest House

ROOM TYPES

• Dining room

CONSTRUCTION

• Exterior material: Brick
• Roof type: Other

• Room count: 10
• Stories: 1

• Structure type: Ranch
• Unit count: 2

OTHER

• Floor size: 4,143 sqft
• Heating: Electric

The rehab cost is $35-50. The cost of the property is $465K and the value is $615K. Only property of its type in the area. You can rehab and split the property and build more homes. Great school district. 

Where are the apartments? What's the current cap rate?

Are your properties listed?

Yes they are available.

Current Portfolio consists of 607 Units.  Currently 540 Units are rented. We average 30 new leases per month so I am anticipating full occupancy by August 30(taking in to account move outs, etc.)

Average rent is $860/per month (6,212,000 annualized). Properties are primarily "B" renovations. Homes are primarily "B" markets with 20% being "C".

Typical home is a 3/2 1300 sq feet.

15% of our tenants are HUD tenants.

We handle all property management, leasing and property maintenance with our in house staff. The Management staff could be part of any transaction if the borrower wanted.

We would not be interested in even entertaining anything today above a 7.5% CAP rate. We really see the market coming our way due to our critical mass. Our target for sale is actually a materially lower cap rate.

If you are interested you will have to show a POF from a bank in the US before we send over the information on the property. The price on this portfolio is $50 M

Hello 

We currently have a contract with a developer whom is seeking to build a grocery anchored store on 10 acre of land we are currently purchasing.  We are looking for someone to purchase and hold the contract with the currently developer. The developer is fine with this are we are seeking to purchase another piece of prime land. There is a 500K upside to this deal. Most of the DD has been done on the land. There will only be a need for 120 day hold.

Hello Everyone,

If you have not received the list, please let me know. The break down of the list price is based on cap rate. There is room for the price to go down. If you have any question please feel free to email them.

 Email sent

 I will email you the list