$1,250,000
$1,375,000
9.1%For more information regarding the value of a property, please contact us for a free consultation.
8,102 Sqft Lot
SOLD DATE : 08/12/2022
Key Details
Sold Price $1,250,000
Property Type Multi-Family
Sub Type Other
Listing Status Sold
Purchase Type For Sale
Subdivision Midtown
MLS Listing ID 7020448
Sold Date 08/12/22
Construction Status Resale
HOA Y/N No
Year Built 1925
Annual Tax Amount $6,968
Tax Year 2021
Lot Size 8,102 Sqft
Acres 0.186
Property Description
MIDTOWN 5 UNIT MULTI-FAMILY BUILDING zoned R5. Three Blocks to Beltline and Piedmont Park. Nestled at the corner of Greenwood and Monroe, 2 Blocks south of Midtown Promenade. Features Three 2/1 Units, One 2/2 Unit, and One 1/1. All of these units are seriously HUGE. Newer systems, Updated kitchens, Newer windows, Roof, and More. The fully functional bathrooms have not been renovated but have a kitschy mid-century feel. Each unit has its own style and a ton of character! Great rental history is currently ready for rental rate increases. All of the tenants are long-term and are holdovers on month-to-month leases at below market. The current gross rental income of $83,820 Annually. Having no rental increases for several years rents can easily be much much more as-is with no improvements. (Market Analysis of neighboring comparable rents suggests that gross income could be just over 100k with an NOI of 97K). Building constructed in 1925 and converted to rental units around 2000. This massive building has been owner-managed since 2006, meticulously maintained, and steadily improved. The owner is selling due to retiring/relocation. Call Bill for full details! (Please do not disturb tenants)
Location
State GA
County Fulton
Lake Name None
Interior
Heating Central, Forced Air, Heat Pump, Separate Meters
Cooling Ceiling Fan(s), Central Air, Separate Meters
Flooring Carpet, Ceramic Tile, Hardwood, Stone
Window Features Double Pane Windows, Insulated Windows
Exterior
Parking Features Detached, Parking Lot
Fence Back Yard, Fenced, Front Yard, Wood, Wrought Iron
Community Features Near Beltline, Near Marta, Near Schools, Near Shopping, Near Trails/Greenway, Park, Public Transportation, Other
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
Waterfront Description None
View City, Trees/Woods
Roof Type Composition, Metal, Shingle
Accessibility None
Handicap Access None
Total Parking Spaces 5
Building
Lot Description Corner Lot
Story Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Cement Siding, Frame
New Construction No
Construction Status Resale
Schools
Elementary Schools Springdale Park
Middle Schools David T Howard
High Schools Midtown
Others
Senior Community no
Tax ID 14 004800070289
Acceptable Financing Cash, Other
Listing Terms Cash, Other
Special Listing Condition None
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