Investment opportunity alert - and this one checks every box! Welcome to 2920 Parc Lorraine in Lithonia Georgia - a fully renovated condominium that is already generating income from day one. This beautifully updated 3 bedroom 2 bathroom unit in the established Parc Lorraine community is a turnkey investment with a tenant already in place paying $1,750 per month - 100% covered by HUD. That is guaranteed government-backed rental income with zero vacancy headache for the new owner. The renovation has been completed - this is not a fixer. This is a move-in ready income-producing asset priced at just $120,000. At this price point the numbers speak for themselves. With $1,750 in monthly gross rent your cap rate is approximately 10.3% - the kind of return that institutional investors spend years chasing. Whether you are a seasoned investor looking to add a cash flowing asset to your portfolio or a first-time investor ready to get your foot in the door - this is the deal you have been waiting for. Priced to move. Income already in place. Government-backed rent. Do not wait on this one. Sold AS-IS. All documents uploaded to FMLS.
Property Details
- Interior
- Other
- Fireplaces
- 1
- Cooling
- Central Air
- Heating
- Central
- Cooling Features
- Central Air
- Bedrooms
- 3
- Bathrooms
- 2.0
- Full Baths
- 2
- Bedrooms on Main Level
- 3
- View
- City
- Lot Features
- Other
- Stories
- 1
- Lot Description
- Other
- Acres
- 0.5
- Parking Features
- Off Street
- Parking
- Off Street
- Parking Spaces
- 2
- Property Type
- Purchase
- Style
- Brick 4 Side
- Year Built
- 1974
- Roof
- Other
- Sewer Information
- Public Sewer
- Utility Source
- Public
- Utility Features
- Cable Available,Electricity Available,Natural Gas Available,Sewer Available,Water Available
- Appliances
- Dishwasher,Refrigerator
- Subdivision
- Parc Lorraine
- Elementary School
- Flat Rock
- Middle School
- Lithonia
- High School
- Lithonia
- County
- DeKalb
- Region
- Lithonia
- Original List Price
- $125,000
- Days on Market (Cumulative)
- 19
- Taxes Annual
- $2,170
- HOA
- 1
- HOA Fees
- 3900
Location
Legal
The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of GAMLS. All real estate listings are marked with the GAMLS Broker Reciprocity thumbnail logo and detailed information about them includes the name of the listing brokers. The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision. Copyright 2023 GAMLS. All rights reserved.
Provided By
Listed by Marcia Wright (#WRIGHTMARCIA)
Listing Office: eXp Realty (#EXPR01)
