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2331 Hwy 52 W, Dahlonega, GA 30533
$855,000
2331 Hwy 52 W, Dahlonega, GA 30533View this property at 2331 Hwy 52 W, Dahlonega, GA 30533
2331 Hwy 52 WDahlonegaGA30533
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Property Description
9% cap! Seven apartment building fully renovated to the stud. Complete with new electrical, plumbing, interior walls, floors, roof, siding. Was originally built in 1960's as a motel and now converted to 7 apartments consisting of 6 studio apartments and 1 one-bedroom apt. Leases are for $1,175 for studios $1,775 for 1 bedroom. As the conversion is being completed, 5 furnished apartments already have 1 year leases. Last 2 have small finishing touches then projected to be 100% leased in early July for 9.1% cap rate. $104k income; $23k expenses. Current 7 apartments are on one level, each with private entry. Terrace level has space to build out 2 more studios. Great income producing! Location is just west of Dahlonega, a historic 'gold rush' town in the foothills of North Georgia with the ever-growing University of North Georgia, the 5th Ranger Training Battalion, the new North Georgia Medical Center hospital, wedding venues all around. The area attracts people from all around with vineyards, hiking and biking trails, river rafting, horseback riding, Ironmountain ATV park and one of the most beautiful state parks, Amicalola Falls State Park, is just 10 miles down the road.
Full Property Details
Full Property Details for 2331 Hwy 52 W
General
- Sold For: $855,000
- Taxes: $2,864 (2022)
- Status: Closed
- Type: Multi-Family
- MLS ID: 20130817
- Added to Site: 342 day(s) ago
Parking
- Parking Features: Kitchen Level, Off-Street, Over 1 Space per Unit, Parking Pad
Location
- County: Lumpkin
- Driving Directions: Located 8 miles West of Dahlonega on Hwy 52W.
School Information
- Elementary School: Blackburn
- Middle School: Lumpkin County
- High School: New Lumpkin County
Community
- Assoc. Fees Include: None
Heating & Cooling
- Cooling Type: Central Air, Electric, Heat Pump
- Heating Type: Electric, Common, Heat Pump, Other
Utilities
- Water/Sewer: Septic Tank
- Utility Description: Other
Structural Information
- Construction Status: Updated/Remodeled
- Basement: Yes
- Basement Desc.: Dirt Floor, Exterior Entry, Partial
- Stories/Levels: One
- Year Built: 1968
Lot Features
- Lot Size (Acres): 5.8
- Lot Size Range: 5.8
- Lot Size Source: Appraiser
Financial Considerations
- Tax Amount: $2,864
- Tax Year: 2022
Disclosures and Reports
- Buyer’s Brokerage Compensation: 3%
- Lot Number: 265
Listing Courtesy of: Keller Williams Rlty First Atl
Sold by RB Realty
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Schools
Schools serving 2331 Hwy 52 W
School District:Lumpkin County Schools
Rating | Name | Grades | Distance |
---|---|---|---|
2001 Indian Dr, Dahlonega, GA 30533 | 9-12 | 4.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 2331 Hwy 52 W
Date
Details
Price
Change
Source
7/25/2023
Sold
$855,000
-4.47%
MLS
6/19/2023
Listed
$895,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
2331 Hwy 52 W, Dahlonega, GA 30533 (MLS# 20130817) is a Multi-Family property that was sold at $855,000 on July 25, 2023. Want to learn more about 2331 Hwy 52 W? Do you have questions about finding other Multi-Family real estate for sale in Dahlonega? You can browse all Dahlonega real estate or contact a Coldwell Banker agent to request more information.