Home Details for 856 Center Street

High-Yield Triplex – Exceptional Investment Opportunity with a 34% Potential Annual Rental Cap Rate! 856 Center Street, Macon, GA 31217 is a single-family home uniquely configured as a triplex. The property features Unit A (Studio), Unit B (2BR/1BA), and Unit C (1BR/1BA). It is listed at an asking price of $159,000 "As Is" with a rental income potential of $28,800 annually, based on achievable market rents after minor upgrades. Unit A is vacant and ready to rent with minor upgrades. Unit B is currently occupied by a Section 8 tenant paying $800/month ($9,600 annually). Unit C is vacant and requires light TLC work to maximize rental income. The projected monthly rent breakdown is $900 for Unit A (market rent after gas HVAC conversion), $800 for Unit B (current rent), and $700 for Unit C (after upgrades), totaling $2,400 per month or $28,800 annually. Utility savings are achievable by converting appliances and HVAC systems to gas, reducing monthly utility costs from $600 to $200, which translates to an annual savings of $4,800. A contractor quote for $11,000 covers light TLC work for Unit C and gas HVAC installations for Units A and C. Financing options include hard money bridge lenders offering 100% financing for the renovations, with the option to refinance into a 30-year fixed mortgage post-renovation. With an annual gross rental income of $28,800 and estimated annual expenses of $7,900 (including utilities, property taxes, insurance, and maintenance), the net operating income (NOI) stands at $20,900 annually, yielding a projected cap rate of 34%. This property offers a high rental yield and minimal initial outlay by leveraging financing options for renovation costs. There is tangible value-add potential by improving rents and reducing utility expenses, and the turnkey nature of the investment is ensured with a clear and marketable title. Combining affordability, immediate cash flow, and upside potential, this triplex is an excellent opportunity to transform into a cash-generating asset and secure long-term financial returns. Contact your agent today for contractor bids, financing details, rent comparables, utility savings projections, property tours, and next steps to secure this unique investment opportunity.

• Cooling Information

  • Ceiling Fan(s)
  • Central Air

• Utilities

  • Electricity Available
  • Natural Gas Available

• Waterfront and Water Access

  • None

• Heating Information

  • Central

• Water Features

  • Public

• Parking

  • None