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Discover an Unbeatable Opportunity at RIVERA PARK Apartment Homes! Nestled in the thriving, high-growth submarket of Conyers, Georgia, just 24 miles east of Atlanta, RIVERA PARK offers an exceptional investment opportunity thatCOs ready to deliver strong returns from day one! This stabilized, high-potential asset guarantees immediate cash flow while offering incredible upside potential for savvy investors. With rents currently under market at just $1200 and 4 units vacant, thereCOs a tremendous opportunity to boost income through strategic rental increases, filling vacancies, and implementing operational efficiencies. Additionally, the propertyCOs excess land presents multiple value-creation possibilities, from development opportunities to further enhancements. This 24-unit building features exclusively spacious 2-bed, 1-bath units, each a generous 900 sqft, known for their ease of leasing, low maintenance needs, and strong demand. These units practically lease themselves and are highly sought after by renters! In 2023, the property underwent a transformative $800k+ renovation, elevating the interiors, exterior, landscaping, parking lot, and amenities, as well as adding a modern onsite office. The upgrades have made this property even more attractive, enhancing its long-term value. Priced to Sell at $3,485,000, with a recent appraisal of $4,292,905, this asset offers investors a golden opportunity to walk into instant equity. Key Highlights: * 7.6% Going-In Cap Rate * 8.8% Stabilized Cap Rate * 10%+ Cash-on-Cash Return DonCOt miss out on this rare chance to capitalize on a property that blends immediate cash flow with huge growth potential. This is a must-see for any investor looking for a smart, high-reward acquisition!
| DAYS ON MARKET | 11 | LAST UPDATED | 4/8/2025 |
|---|---|---|---|
| TRACT | None | YEAR BUILT | 1968 |
| GARAGE SPACES | 33.0 | COUNTY | Rockdale |
| STATUS | Active | PROPERTY TYPE(S) | Multi Family |
| Elementary School | Flat Shoals |
|---|---|
| Jr. High School | Conyers |
| High School | Rockdale County |
| ADDITIONAL DETAILS | |
| AIR | Ceiling Fan(s), Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| BASEMENT | None |
| CONSTRUCTION | Brick |
| GARAGE | Yes |
| HEAT | Central |
| LOT | 3 acre(s) |
| PARKING | Assigned |
| SEWER | Public Sewer |
| STORIES | 2 |
| SUBDIVISION | None |
| TAXES | 17303 |
| UTILITIES | Sewer Connected |
| WATER | Public |
| WATER ACCESS | NONE |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listed with Zach Taylor Real Estate
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The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2025 GAMLS. All rights reserved.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2025 GAMLS. All rights reserved.
This IDX solution is (c) Diverse Solutions 2025.
