[ Pending Sale ]

507 Greenwood Avenue NE , Atlanta

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

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

School Information

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: 8/18/2022 4:00:04 AM from FMLS
Listing Provided as a Courtesy of PalmerHouse Properties.
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