$785,000
SOLD OCT 31, 2024

506 N 2nd St Lafayette, GA 30728

LaFayette Neighborhood
-- Bed
-- Bath
3,075 Sq Ft
1 Acres

Recently Sold

$255 Per Sq Ft

15% Below List Price

68 Days on Market

Highlights

  • 1 Acre Lot
  • No HOA
  • Central Heating and Cooling System

About This Home

As of October 2024

PLEASE DO NOT DISTURB RESIDENTS - SHOWINGS & INSPECTIONS WILL BE SCHEDULED AFTER THE PARTIES ARE UNDER CONTRACT - PLEASE DO NOT VISIT THE PROPERTY WITHOUT AN APPOINTMENT. Four apartment buildings - 2 duplexes and 2 triplexes. These units are located together on one parcel. Building A (215 W. Indiana Street) includes two 3 bedroom, 1.5 bath units and one 1 bedroom, 1 bath efficiency. Building B (510 N. 2nd St.) has two 2 bedroom, one bath units. Building C (508 N. 2nd St.) has two 1 Bedroom, 1 bath units. Building D (506 N. 2nd St.) has two 2 bedroom 1 bath Townhouses with a 1 bedroom, 1 bath efficiency on the terrace level. Ten units in total with 4 different buildings on nice lot. This property is listed as a part of a portfolio. There is an existing first loan on the portfolio which is non-recourse and an attractive interest rate of 3.95% with an original 10-year term. The loan is assumable with lender approval and payment of a 1% assumption fee (similar to origination fee) and the Buyer will want to assume the loan or otherwise will need to pay the applicable pre-payment premium. A Seller second loan is possible (with a minimum down payment of 35%) with terms to be negotiated by the parties. The other Listings are as follows: 784 Briarcliff Road, Atlanta, GA GaMLS#10336429; 323 S. King Ave., Pine Mountain, GA GaMLS#10336421; 372 Grier Street, Macon, GA GaMLS#10336401; 303 E. Lee Street, Thomaston, GA GaMLS#10336411. Total Portfolio Price = $4,385,000 and includes 5 properties and 36 units; Minimum Down Payment for Portfolio Acquisition = 35% = $1,534,750. Great Investment Opportunity for Turn-Key Rental Properties with Below Market Interest Rate and non-recourse Financing! Seller is happy to facilitate a Buyer's 1031 tax-deferred exchange so long as it does not create additional expenses or liability for Seller. Please contact listing agent for more details regarding the capital stack and possible sale structure. It may be possible to purchase this Property separate from the Portfolio. Please contact listing agent for details. Thank you for looking.

Last Agent to Sell the Property

John Lantz

Realty Hub of Georgia, LLC License #379632 Listed on: 07/11/2024

Realty Hub of Georgia, LLC

Last Buyer's Agent

John Lantz

Realty Hub of Georgia, LLC License #379632 Listed on: 07/11/2024

Realty Hub of Georgia, LLC

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,284

Year Built

  • Built in 1975

Parking

  • Off-Street Parking

Schools

  • North Lafayette Elementary School
  • Lafayette Middle School
  • Lafayette High School

Additional Features

  • 2-Story Property
  • 1 Acre Lot
  • Central Heating and Cooling System

Community Details

  • No Home Owners Association
  • 10 Units

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,284

Year Built

Built in 1975

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Year Built: 1975
  • Financing Type: Other
  • Levels: Two
  • Lot Size Acres: 1.00
  • Structure Type: Multi Family (5+ Units)
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Basement: None

Exterior Features

  • Construction Materials: Other
  • Property Condition: Resale

Garage/Parking

  • Parking Features: Off Street

Utilities

  • Cooling: Central Air
  • Heating: Central
  • Sewer: Public Sewer
  • Utilities: Electricity Individual Meters
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Community Features: None

Fee Information

  • Association Fee Includes: None

Schools

  • Elementary School: North Lafayette
  • High School: Lafayette
  • Middle School: Lafayette
  • Elementary School: North Lafayette
  • Middle School: Lafayette
  • High School: Lafayette

Rental Info

  • Owner Pays: Other

Tax Info

  • Year: 2015
  • Tax Annual Amount: 1284

Multi Family

  • NumberOfUnitsTotal: 10

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/31/2024 10/31/24 Sold $785,000 0.0% $255 / Sq Ft
09/21/2024 09/21/24 Off Market $550 -- --
09/17/2024 09/17/24 Pending -- -- --
07/11/2024 07/11/24 For Sale $925,000 +166.0% $301 / Sq Ft
08/14/2019 08/14/19 Sold $347,750 -18.9% $113 / Sq Ft
07/06/2019 07/06/19 Pending -- -- --
05/23/2019 05/23/19 For Sale $429,000 0.0% $140 / Sq Ft
01/05/2018 01/05/18 Rented -- -- --
01/05/2018 01/05/18 Rented $550 0.0% --
01/01/2018 01/01/18 Under Contract -- -- --
11/20/2017 11/20/17 For Rent $550 -- --
Source: Georgia MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • John Lantz

    Seller's Agent in 2024

    John Lantz

    Realty Hub of Georgia, LLC

    (678) 984-1380

    1 in this area

    26 Total Sales

    John Lantz
    Section Image

  • B

    Seller's Agent in 2019

    Bill Story

    Horizon Sotheby's International Realty

    (706) 866-4140

    3 Total Sales

    Bill Story
    Section Image
  • Nathan Torgerson

    Buyer's Agent in 2019

    Nathan Torgerson

    Keller Williams Realty

    (423) 902-9445

    9 in this area

    633 Total Sales

    Nathan Torgerson
    Section Image

  • M

    Seller's Agent in 2018

    Melanie Butler

    Chatt Property Management

    (706) 639-5808

    18 Total Sales

    Melanie Butler
    Section Image
See All Agents

Map

Source: Georgia MLS

MLS Number: 10336438

Georgia MLS

Georgia Walker County LaFayette 30728 LaFayette

506 N 2nd St, LaFayette, GA

This home is located at 506 N 2nd St, Lafayette, GA 30728 and is currently priced at $785,000, approximately $255 per square foot. This property was built in 1975. 506 N 2nd St is a home located in Walker County with nearby schools including North Lafayette Elementary School, Lafayette Middle School, and Lafayette High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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