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Midtown (ATL)- 8 Unit Multifamily Opportunity 314 NE 5th St 8 Unit Apartment Building $1,685,000 ($210,625/Unit) 7% Cap Rate Atlanta, GA 30308
Investment Highlights
- Prime Midtown location - walkable to nearby Piedmont Park, Eastside Beltline and more.
- Recently renovated in 2021
- 100% occupied with stable long-term tenants | Strong leasing demand / low vacancy submarket
- Long term tenants: 1 tenant for ~5 years. 3 tenants for almost 3 years. 2 tenants for almost 2 years.
- Updated interiors featuring new kitchens, baths, flooring, lighting, and more
- Easy low maintenance management | All units have in-unit laundry
Executive Summary
Rare opportunity to purchase this recently renovated 8-unit apartment building in the heart of Midtown. The property is 100% leased with Atlanta Housing Authority tenants providing stable direct deposit monthly income with easy management at an attractive 7% cap rate.
Property Facts
| Price | $1,685,000 | Building Class | C |
| Price Per Unit | $210,625 | Lot Size | 0.13 AC |
| Sale Type | Investment | Building Size | 7,155 SF |
| Cap Rate | 7% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1920/2021 |
| Property Subtype | Apartment | Parking Ratio | 0.42/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 | ||
| Price | $1,685,000 |
| Price Per Unit | $210,625 |
| Sale Type | Investment |
| Cap Rate | 7% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 7,155 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1920/2021 |
| Parking Ratio | 0.42/1,000 SF |
| Zoning | R5 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Washer/Dryer
- Kitchen
- Oven
- Island Kitchen
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 14-0048-0005-025-7 | Improvements Assessment | $408,320 |
| Land Assessment | $160,000 | Total Assessment | $568,320 |
Property Taxes
Parcel Number
14-0048-0005-025-7
Land Assessment
$160,000
Improvements Assessment
$408,320
Total Assessment
$568,320
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