1204 Lakeview Dr NW
Description
Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity that’s ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors. With rents currently under market at just $1200...Discover an Unbeatable Opportunity at RIVERA PARK Apartment Homes! 24 UNIT INVESTMENT PROPERTY- PRICED TO SELL
Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity that’s ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors. With rents currently under market at just $1200 and 4 units vacant, there’s a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the property’s excess land presents multiple value-creation possibilities, from development opportunities to further enhancements. This 24-unit building features exclusively spacious 2-bed, 1-bath units, each a generous 900 sqft, known for their ease of leasing, low maintenance needs, and strong demand. These units practically lease themselves and are highly sought after by renters! In 2023, the property underwent a transformative $800k+ renovation, elevating the interiors, exterior, landscaping, parking lot, and amenities, as well as adding a modern onsite office. The upgrades have made this property even more attractive, enhancing its long-term value. Priced to Sell at $3,485,000, with a recent appraisal of $4,292,905, this asset offers investors a golden opportunity to walk into instant equity. Key Highlights:
7.6% Going-In Cap Rate
8.8% Stabilized Cap Rate
10%+ Cash-on-Cash Return
Don’t miss out on this rare chance to capitalize on a property that blends immediate cash flow with huge growth potential. This is a must-see for any investor looking for a smart, high-reward acquisition!
- Listed by Joshua Ahlzadeh • Zach Taylor Real Estate
Property Details for 1204 Lakeview Drive Northwest
Property Details for 1204 Lakeview Drive Northwest
| Status | Active |
|---|---|
| MLS # | 7555085 |
| Days on Market | 73 |
| Taxes | $17,303 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Other |
| Year Built | 1968 |
| Lot Size | 3.00 AC / 130,680 SF |
| County | Rockdale County |
Location
Building Information for 1204 Lakeview Drive Northwest
Payment Calculator
$19,701 per month
30 year fixed, 6.845% Interest
$18,259
$1,442
$0
Property Information for 1204 Lakeview Drive Northwest
- Community Features: Barbecue, Clubhouse, Near Public Transport, Near Schools, Near Shopping, Near Trails/Greenway, Park, Playground, Restaurant, Sidewalks
- Directions: FROM CITY: 85south to 20 East Take exit 80 toward West Ave./Conyers onto Klondike Rd SW. Go for 0.8 mi. Then 0.8 mi Continue on Almand St NW. Go for 0.1 mi. Then 0.1 mi Turn slightly right onto Rosser St NW. Go for 433 ft. Then 0.08 mi Turn left onto N Main St NW. Go for 0.2 mi. Then 0.2 mi Turn right onto College Ave NW. Go for 420 ft. Then 0.08 mi Turn left onto Lakeview Dr NW. Go for 0.1 mi.
- Lake Name: None
- View: City, Neighborhood, Trees/Woods
- Coordinates: -84.021084, 33.675739
- Parcel Number: C070010026
- Tax Year: 2024
- Association: No
- Tax Legal Description: LAKEVIEW DR
- Elementary School: Flat Shoals - Rockdale
- High School: Rockdale County
- Middle School: Conyers
- Virtual Tour Link PP: https://www.propertypanorama.com/1204-Lakeview-Drive-NW-Conyers-GA-30012/unbranded
- Open Parking: Yes
- Cooling: Ceiling Fan(s), Central Air
- Heating: Central
- Basement: None
- Flooring: Luxury Vinyl
- Levels/Stories: Two
- Window Features: Aluminum Frames, Double Pane Windows
- Bathrooms Total Interger: 0
- Accessibility Features: None
- Construction Materials: Brick
- Dock: None
- Fencing: Fenced
- Roof Type: Shingle
- Security Features: Carbon Monoxide Detector(s)
- Pool Private: No
- Sewer: Public Sewer
- Utilities: Cable Available,Electricity Available,Natural Gas Available
- Water Source: Public
- Home Warranty: No
- Proposed Financing: 1031 Exchange, Cash, Conventional, Other
- Property Condition: Updated/Remodeled
- Possession: Close Of Escrow
- Green Energy Efficient: None
- Green Energy Generation: None
- Lot Features: Level, Private, Wooded
- Acreage Source: Public Records
- Unit Count: 4
- NUM OF UNITS: 24
- Gross Annual Income: $353,088.00
- N.O.I. $: $262,727.00
- Annual Expenses: $90,361.00
- Unit Deposit Amount: $1,500.00
- Unit Electric Included: No
- Unit Features: Central Air, Deck, Dishwasher, Disposal, Dryer, Fire Alarm, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Sprinkler, Walk-In Closet, Wash/Dry Connect, Washer, Other
- Unit Garbage Included: Yes
- Unit Gas Included: No
- Unit Half Baths: 0
- Unit Maintenance Included: Yes
- Unit Occupant: Vacant
- Unit Water Included: Yes
- Unit Rent Amount: $1,500.00
- Unit Full Baths: 1
- Unit Bedrooms: 2
- Unit Deposit Amount: $1,500.00
- Unit Electric Included: No
- Unit Features: Central Air, Deck, Dishwasher, Disposal, Dryer, Fire Alarm, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Washer
- Unit Garbage Included: Yes
- Unit Gas Included: No
- Unit Half Baths: 0
- Unit Maintenance Included: Yes
- Unit Occupant: Vacant
- Unit Water Included: Yes
- Unit Rent Amount: $1,500.00
- Unit Full Baths: 1
- Unit Bedrooms: 2
- Unit Deposit Amount: $1,500.00
- Unit Electric Included: No
- Unit Features: Disposal, Dryer, Fire Alarm, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Sprinkler, Walk-In Closet, Wash/Dry Connect, Washer, Other
- Unit Garbage Included: Yes
- Unit Gas Included: No
- Unit Half Baths: 0
- Unit Maintenance Included: Yes
- Unit Occupant: Vacant
- Unit Water Included: Yes
- Unit Rent Amount: $1,500.00
- Unit Full Baths: 1
- Unit Bedrooms: 2
- Unit Deposit Amount: $1,500.00
- Unit Electric Included: No
- Unit Features: Central Air, Deck, Dishwasher, Disposal, Dryer, Fire Alarm, Microwave, Patio, Range/Oven, Refrigerator, Smoke Alarm, Walk-In Closet, Wash/Dry Connect, Washer
- Unit Garbage Included: Yes
- Unit Gas Included: No
- Unit Half Baths: 0
- Unit Maintenance Included: Yes
- Unit Occupant: Vacant
- Unit Water Included: Yes
- Unit Rent Amount: $1,500.00
- Unit Full Baths: 1
- Unit Bedrooms: 2
- Occupant Types: Tenant
Property History for 1204 Lakeview Drive Northwest
| Date | Event & Source | Price | Appreciation |
|---|---|---|---|
| Sep 27, 2022 | Sold (Public Record) Public Record #1498635064 | $2,450,000 | +14.1% / yr |
| Apr 18, 2016 | Sold (Public Record) Public Record #569840724 | $1,050,000 | -0.2% / yr |
| Mar 8, 2004 | Sold (Public Record) Public Record #594721976 | $1,076,379 | — |
| Date | Event & Source | Price |
|---|---|---|
| 09/27/2022 | Sold (Public Record) Public Record #1498635064 | $2,450,000 +14.1% / yr |
| 04/18/2016 | Sold (Public Record) Public Record #569840724 | $1,050,000 -0.2% / yr |
| 03/08/2004 | Sold (Public Record) Public Record #594721976 | $1,076,379 |
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 1204 Lakeview Drive Northwest
Schools near 1204 Lakeview Drive Northwest
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Private - | PK to 4 |
Rating | School | Distance |
|---|---|---|
Pine Street Elementary School PublicPK to 5 | ||
Conyers Middle School Public6 to 8 | ||
Rockdale County High School Public9 to 12 | ||
High Achievers Education Center PrivatePK to 4 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of Zach Taylor Real Estate, Joshua Ahlzadeh
Based on information from one of the following Multiple Listing Services:FMLS,FMLS_CS,GAMLS,Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS.Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by FMLS,FMLS_CS,GAMLS, Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.
