41 Victoria Street

Description

Great opportunity to own an easy-to-maintain duplex in the Downtown area of Commerce, GA, with strong rental upside and a practical value-add strategy. Currently rented with long term tenants at $1500 total. Each unit offers 2 bedrooms and 1 bathroom, and both units are currently under-rented. Based on the current condition and local rental demand, each unit should be capable of renting for $1,000+ per month as-is, providing an investor with immediate potential to increase cash flow. The lower unit is already in good condition, making this an excellent opportunity to keep income coming in while focusing improvements on the other half of the property. The tenants are on a month to month lease basis. An investor could potentially retain the existing tenant while updating the second unit, then lease the improved unit at a higher market rent. There are some things like flooring and paint that might increase the rent for the downstairs unit after updating the top floor. The property has several features that make it a relatively straightforward investment, Public water and SEWER. The roof that is not old and one HVAC system and water heater were replaced in recent years. Both units offer additional value-add potential without requiring an extensive repositioning of the entire property. Commerce provides a large and diverse tenant pool, with convenient access to employment, schools, shopping, and major transportation routes. The duplex is well located for easy access to downtown Commerce, local schools, Tanger Outlets, I-85, and other area amenities.