507 Greenwood Avenue NE

Atlanta, GA 30308

$1,375,000

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)

    MLS Data

  • StatusActive Under Contract
  • MLS #7020448
  • TypeResidential Income

    Exterior Details

  • ConstructionCement Siding, Frame
  • Built In1925
  • StoriesThree Or More
  • ParkingDetached, Parking Lot
  • ServicesNear Beltline, Near Marta, Near Schools, Near Shopping, Near Trails/Greenway, Park, Public Transportation
  • UtilitiesCable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
  • SewerPublic Sewer
  • Lot DescriptionCorner Lot
  • Lot Dimensionsx
  • Acres0.186

Listing Provided Courtesy Of: PalmerHouse Properties

First Multiple Listing ServiceListings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website. The listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work please click here to review our DMCA policy and learn how to submit a takedown request. © 2022 First Multiple Listing Service, Inc.

This property information delivered from various sources that may include, but not be limited to, county records and the multiple listing service. Although the information is believed to be reliable, it is not warranted and you should not rely upon it without independent verification. Property information is subject to errors, omissions, changes, including price, or withdrawal without notice.

For issues regarding this website, please contact Eyesore at 678.692.8512.

Data Last updated on May 18, 2022 11:00pm


Request Information