[ Closed ]

507 Greenwood Avenue NE

, Atlanta - Midtown
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Price:
$1,375,000
Type:
Multi-Family
Year Built:
1925
Approx. Sq. Ft.:
n/a
Sq. Ft. Source: NA
Bedrooms:
n/a
Bathrooms:
n/a
Half-Baths:
n/a
Lot Size:
0.186 Acres
  • Property Details
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  • 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)
    FMLS#: 7020448
    Neighborhood: Midtown
    School Information
    • Elementary School: Springdale Park
    • Middle School: David T Howard
    • High School: Midtown
    Exterior Features
    Construction:Cement Siding, Frame
    Built In:1925
    Stories:Three Or More
    Sewer:Public Sewer
    Parking:Detached, Parking Lot
    Features:Composition, Metal, Shingle
    Services:Near Beltline, Near Marta, Near Schools, Near Shopping, Near Trails/Greenway, Park, Public Transportation, Other
    Utilities:Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
    Lot Description:Corner Lot
    Acres:0.186
    Interior Features
    Features:Carpet, Ceramic Tile, Hardwood, Stone, Double Panes, Insulated Windows, Ceiling Fan(s), Central Air, Separate Meters, Central, Forced Air, Heat Pump, Separate Meters
    HVAC:Ceiling Fan(s), Central Air, Separate Meters
    Last updated: 3/21/2023 2:31:13 AM from FMLS
    Listing Provided as a Courtesy of PalmerHouse Properties.
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