ready-to-open

135 Knights Ct, Fayetteville GA, 30215

Price
Listing Tags
furnished;turnkey
Beds
21
Size
5042 sqft
Type
Two-Family
135 Knights Ct, Fayetteville GA, 30215

Overview

Newly renovated, fully furnished lakefront home in Fayetteville, Georgia, with 7 bedrooms, 4.5 baths and about 5,000 square feet. Two separate units, each with its own entrance and kitchen, make it a strong fit for an operator who wants to open quickly with room to grow.

Lease and Income Structure

Furnished Recovery Housing Opportunity in Fayetteville, Georgia

135 Knights Ct is a newly renovated lakefront home in Fayette County, south of Atlanta. It offers about 5,000 square feet of living space with 7 bedrooms and 4.5 bathrooms, and it comes fully furnished, so an operator can move residents in without a long setup period.

Layout

The home is set up as two units, upstairs and downstairs. Each unit has its own entrance and its own kitchen, so it can run as one large house or as two separate living spaces, for example to split phases of recovery or to house a live-in house manager apart from residents.

Bed Capacity

Each of the 7 bedrooms has one bed today. The bedrooms are large, and the owner estimates the home can hold up to 21 beds by adding beds to the bedrooms and common areas. Operators should confirm the final bed count against their state and local standards.

Location

The property sits on a quiet, wooded lot with lake views, set back from busy roads. It is not within walking distance of stores or public transportation, so the operator should plan to provide transportation for residents to work, meetings and appointments.

Lease

Asking lease is $6,500 per month. The operator typically covers utilities and day-to-day upkeep, while the owner handles major structural items.

Property Financials
Bed Data
Private Beds 7
Shared Beds 14
Total Beds 21
Vacancy Rate (estimated) 20%
House Mentors 1.7
Revenue-Producing Beds 15.30
Weekly Rent $200.00
Intake Fee $200.00
Revenue (Annual)
Total Potential Rent Income $218,400.00
Less: Vacancy & Loss $43,680.00
Less: Mentor Rent Credit $17,680.00
Plus: Intake Fee Revenue $6,800.00
Plus: Laundry Service Revenue $3,536.00
Total Revenue $167,376.00
Expenses (Annual)
Operating Expenses $28,379.00
Property Insurance $2,600.00
Operator Compensation $24,000.00
Valuation
Capitalization Rate 8.50%