Intown 8-Unit Multifamily Building | 5,878 SF | 5% Cap Rate
79 SE Jackson St
Atlanta, GA 30312
| PRICE : | $1,600,000 |
|---|---|
| CAP RATE: | 5% |
| PROPERTY TYPE: | Multifamily |
| SITE SIZE: | 0.17 Acres |
| UNITS: | 8 |
| YEAR BUILT: | 1964 |
Highlights
- • 8-unit multifamily building for sale
- • 100% occupied
- • Recent upgrades in units include paint, flooring and bathroom finishes
- • Located in a Qualified Opportunity Zone
- • Building features a custom mural by renowned Colorado-based artist, Illdes
- • Located in desirable Old Fourth Ward/Sweet Auburn district
- • Within walking distance to the Atlanta BeltLine, Krog Street Market, Cabbagetown and King Memorial MARTA Transit Station
- • Located in close proximity to Ponce City Market and Little Five Points/Edgewood retail districts
Description
This eight-unit, two-story apartment property in Atlanta's desirable Old Fourth Ward/Sweet Auburn district is among an exciting mix of new and older developments. The 100% occupied, four-sided, brick building is efficiently-designed and well maintained, providing 8, 2 bedroom / 1 bath units. Each unit is separately metered for electric, and AC window units provide the owner with easy, inexpensive replacement as needed. The property also features a new fence and fresh asphalt drive.
Dramatically enhancing the appearance of the building is a custom mural by renowned Colorado-based artist, Illdes, which sets the vibe for this intown gem. Recent upgrades to several units such as paint, flooring and bathroom finishes. Kitchens have appliances of varying age and future upgrades can be utilized as leases roll to increase rents for new owner.
One unit is occupied by maintenance tech in exchange for rent, with potential to stay or move out to capture additional rent at the owner's option. In addition to ample street parking, there's a rear parking area and private patio with small garden space, affording residents fabulous views of the Atlanta skyline.
The property is in walking distance to the Atlanta BeltLine, Krog Street Market, Cabbagetown and King Memorial MARTA Transit Station. In the immediate area are numerous restaurants, retailers and entertainment options including Ponce City Market and Little Five Points/Edgewood retail districts.
