127 Lagrange St Newnan, GA 30263
- Residential income homes
Current Use by Public Records
- Residential income homes
Property Details for 127 Lagrange St
- Property type
- Residential income homes
Description
This exceptional investment opportunity consists of two properties located in Newnan, Georgia, at 127 LaGrange Street and 57 1st Avenue. The portfolio comprises ten fully leased single-family rental units, offering immediate cash flow. The properties are situated within walking distance of Historic Downtown Newnan and feature a mix of one- to three-bedroom units, all boasting spacious layouts and modern finishes. Each property offers off-street parking. The portfolio enjoys 100% occupancy, presenting a turnkey ownership experience. Significant upside potential exists due to several below-market leases. Recent capital improvements include new roofs and HVAC systems, along with cosmetic upgrades such as fresh paint and landscaping. The properties sit on approximately 0.4 acres and 0.46 acres respectively. The asking price is $1,650,000, representing $165,000 per unit, with an estimated cap rate of 6.5% and a gross annual income of $129,120. This portfolio presents a compelling investment opportunity for those seeking strong cash flow and potential for appreciation in a desirable location. The properties were renovated in 2023.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Newnan
- County
- Coweta
- State
- Georgia
- Longitude
- -84.8047003
- Latitude
- 33.3673053
