Description
SHOWING THIS WED TO REGISTERED INVESTORS - EMAIL FOR APT CONFIRMATION.
718 Penn Ave is a performing historic 8 unit apartment building located in one of the most desirable parts of Midtown, Atlanta; and just 5 Blocks from Piedmont Park (Google for more information). Property has great curb appeal and off street parking, which is rare for area . Currently 7 of 8 units rented and and income of $4835.00; Light upgrades and aggressive leasing will yield $5,800 - 6,000 per month.
Apartments offer a good unit mix with eight total units, two being large 1bd/1bth with an additional 6 studio' s or efficiencies. A hardwood floor, off street parking, historic charm and a highly desirable location, ensures consistent high occupancy and stabile, qualified tenants. Some up-dating and light cosmetic improvements could create upside to rents. Water, gas & electric our on house meter & those utilities are included in the tenants rent. Opportunity to reduce expenses through hands on owner operator.
LOCATION, LOCATION, LOCATION. Within walking distance of Piedmont Park, the Central Park of the Southeast. The Parks are home to many concerts, festivals and cultural events throughout the year, as well as outdoor recreational opportunities. Midtown Mile, a brand new development along Peachtree Street, attracting exciting new retail and dining opportunities to Atlanta, is just two blocks away. The property is also less than six blocks from the Georgia Institute of Technology. Close proximity to Emory College, Georgia State, Savannah College of Arts, Fox Theater, GA Aquarium, Coca Cola world head quarters, Turner Field (home of Atlanta Braves), CNN center, Phillips Arena and much more. In addition, the property offers convenient access to major roadways including I-75, I-85, GA-400 and I-20. Located in a residential area with tree lined streets and single family home values ranging from $800,000 2.5MM. PRICED TO SELL & LISTED AT $499,500 Last assessed value was $608,300. Sales comparison analysis for the area, in the last 6 month shows average price for 4 units was $495,000, this is 8. See attached reports and info. MUST FAX ATTACHED CA AGREEMENT 4 FINANCIAL