3927 Wabash Lane, Ellenwood, GA 30294
- $210,000
- 8
- BD
- 2
- BA
- 1,782
- SqFt
- List Price
- $210,000
- Status
- ACTIVE
- Days on Market
- 17
- MLS#
- 7802374
- Subtype
- Residential
- Style
- Other
- Year Built
- 1985
- Bedrooms
- 8
- Bathrooms
- 2
- Full Baths
- 2
- Living Area
- 1,782
- Lot Size
- 16,552
- Acres
- 0.38
- Subdivision
- River Run
- Neighborhood
- River Run
Property Description
Options abound for this contemporary, furnished coliving rental. Currently generating over $3,200 per month in rent, you can reposition the property and bring rents up to market for robust returns north of a 12% cap rate. Or, with after repair values north of $300,000, this home could be a great BRRRR or flip. Already operating as a rental and in need of only minor TLC, there are many value-add plays here. Inside, soaring vaulted ceilings greet you, alongside an updated kitchen with granite countertops and white cabinets, updated bathrooms, LVP flooring throughout, and a dedicated laundry room. Outside, a long, wide driveway offers abundant off-street parking, and the large, level backyard is framed by mature trees for privacy. More than $38,500 in rent over the past year means you collect income from day one while you execute your plan. After some modest improvements, pro forma income as a furnished coliving rental runs over 24%+ cash-on-cash ROI even after management fees, north of 30% if you do self-managed co-living. Whether you plan to keep it or reposition it, you have options. Sold as-is. Pro forma and full financials available upon request.
Additional Information
- Interior Features
- High Speed Internet, Other
- Exterior Features
- Other
- Taxes
- $4,252
- Property Description
- Other
- Flooring
- Laminate
- Appliances
- Dishwasher, Microwave, Refrigerator
- Heating
- Central
- Air Conditioning
- Central Air
- Exterior Construction
- Cedar
- Exterior Features
- Other
- Stories
- One
- Levels
- One
- Roof
- Composition, Shingle
- Parking
- Driveway
- Elementary School
- Oak View - Dekalb
- Middle School
- Cedar Grove
- High School
- Cedar Grove
- View
- Neighborhood, Trees/Woods
Courtesy of Keller Williams Realty Metro Atlanta
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