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114 W Sixth Street
Waynesboro, GA 30830
$699,000
Conventional
Property
Bedroom
2
Bathroom
4
Property Type
Conventional
Square ft
24359
Property Description
Prime & iconic downtown multi-use property in Waynesboro, Georgia. With nearly 25,000 total square feet, the property includes a 3,200 square foot stylish residential loft on the second level, 3 retail storefronts on the ground level, and warehouse space on the second level. A highly-visible anchor building and known for decades as the ''Goldberg's Building,'' this two-story property fronts nearly an entire block along West Sixth Street, plus approximately 90 feet of frontage along Shadrack Street. Building has undergone extensive renovation, including new roof, new HVAC, electrical improvements & cosmetic updates. Ground level retail spaces: Floor to ceiling windows offer high visibility for retail display. Two of the units boast 14-15-foot high ceilings and mezzanines, adding floorspace for showroom, retail or other uses. Mezzanines were engineered in the 1960s when the building was redesigned. East unit has office space and built-in bar height counter with custom accents suitable for entertaining space. West unit has 8-foot ceilings and partitions in place that currently provide display space for antique store tenant. Residential loft: Loft apartment was completed in 2018 as Waynesboro's first residential downtown loft & boasts historic & industrial character, sprawling living spaces, two bedrooms with walk-in closets and en suite bathrooms, large kitchen with center island ideal for entertaining, half bath for guests, spacious laundry room & pantry, and separate walk-in storage room. All kitchen appliances convey as well as the stainless steel LG front load steam washer/dryer (on stands) in the laundry room. High ceilings with exposed 100-year-old beams range from 10-13 feet in height. Hardwired for cable/Internet in bedrooms, kitchen and Living room. Dual zone heating and air. Accessible from interior (staircase and service elevator) and exterior staircase. Exterior staircase has deck space and down to a lawn with 8-foot privacy fence. Turn-key income producing property or an excellent on-site residence for building owner. Warehouse: Nearly 4,600 square feet of warehouse space. Ceiling heights range between 10-12 feet. All windows have been replaced. Accessible by wide staircase situated just inside loading dock at rear of building. Operable freight elevator in place as well, originally used to elevate automobiles to the warehouse for storage when the building was home of Waynesboro's first auto dealership. Loading dock at rear. The warehouse space boasts great potential for additional residential units or office space. This property offers history, character and an opportunity for investment potential or ideal owner-occupant scenario.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
1960
MLS Number
522596
Location
Address
114 W SIXTH Street
City
Waynesboro
State
GA
Zip Code
30830
County
BURKE
Listing
Provider
Mary Yelton Realty, original listing
Name
Mary Yelton Realty
Phone
(706) 554-0340
Office Name
Mary Yelton Realty, Llc
Office Phone
(706) 554-0340
Agent Name
Anne Marie Kyzer

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HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.