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Value-Add Multifamily Opportunity in Atlanta 345 Lanier St 16 Unit Apartment Building $960,000 ($60,000/Unit) Atlanta, GA 30318
Investment Highlights
- Large front courtyard
- 17 off street parking spaces
- Fenced
- All units have front balcony areas or patios
- In-unit laundry (combo washer/dryer units)
- Permanent storage shed attached to the building
Executive Summary
Rare opportunity to buy a 16-unit apartment building at well below replacement cost in Atlanta's booming Westside. The property consists of 16 spacious two bedroom/ one bath units. The property was recently renovated throughout and has since become vandalized and distressed due to absentee ownership. Most units are close to rent ready with minor cosmetics and some new HVAC and appliances. 3 units are gutted and need full rehab. Sold "as is". No past financials or rent rolls available. Rents in the area range from $1,300-$1,400 for market rate tenants and upwards of $1,650 for subsidized programs.
Property Facts
| Price | $960,000 | Lot Size | 0.77 AC |
| Price Per Unit | $60,000 | Building Size | 15,216 SF |
| Sale Type | Investment | Average Occupancy | 0% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1963 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | RG3 | ||
| Price | $960,000 |
| Price Per Unit | $60,000 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 15,216 SF |
| Average Occupancy | 0% |
| No. Stories | 2 |
| Year Built | 1963 |
| Parking Ratio | 1.12/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RG3 |
Amenities
Unit Amenities
- Balcony
- Washer/Dryer
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- Courtyard
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 16 | - | 951 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 14-0146-0012-047-3 | Improvements Assessment | $754,080 |
| Land Assessment | $80,000 | Total Assessment | $834,080 |
Property Taxes
Parcel Number
14-0146-0012-047-3
Land Assessment
$80,000
Improvements Assessment
$754,080
Total Assessment
$834,080
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