350 Herndon Lane

Description

350 Herndon Lane located in the fast growing City of Canton, Cherokee County, Georgia. Situated just south of the Canton Historic District and in close proximity to I-575. The property features two-standalone buildings with six units per building. Unit mix per building is three, 1 bed / 1 bath units on the lower level and three, 2 bed / 2.5 bath units on the upper level. Units are master metered for water, separately for electric. Value add opportunity to increase the reimbursement for water or install usage devices, or separately meter the units. Historical occupancy has been 100% with present occupancy is 91.6%. One unit recently vacated due to job relocation. This asset is located within the prime Canton Market, which has experienced substantial growth over the past decade. Average Household income reported over $102,000 within a three-mile radius. Strong rental market with roughly 52% of households being leased and projected to grow over the next 5 years. Please inquire with listing agent for financials and additional information. Interior inspections allowed ONLY during due diligence period. Don’t hesitate to connect with any questions or need further details.