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778 NE Argonne Ave 4 Unit Apartment Building $1,285,000 ($321,250/Unit) 5.84% Cap Rate Atlanta, GA 30308
INVESTMENT HIGHLIGHTS
- Boutique fully renovated apartment building located corner of Argonne Ave & 5th Street in walkable Midtown Atlanta.
- Turn key + 100% occupancy
- This building is walking distance to Midtown shops and restaurants and Piedmont Park.
- Three 1BR + one 2BR
EXECUTIVE SUMMARY
Turn key 4-unit multi-family. Fully renovated, located on the corner of Argonne Avenue and 5th Street in the center of Midtown offers great value and large floor plans. This building is walking distance to Ponce de Leon Ave a thoroughfare for shopping and restaurants, as well as Piedmont Park and numerous shops and restaurants on Piedmont Ave in Midtown.
Fully Leased with additional income potential. Three 1BR units. One 2BR unit
Each unit is individually metered for gas and electric.
Residents reimburse a flat fee for water use monthly.
Designated off-street parking lot for residents.
Street parking is free, no permit needed to park.
Additional Amenities
-10' Ceilings
-New stainless steel appliances
-Waterfall countertops
-Custom kitchen cabinetry
-Each unit is equip with washer/dryer
-Tiled bathrooms
-Pocket doors
-Gas appliances
-Google Fiber
-Coded access entry
Location
778 Argonne Ave Ne
Atlanta, GA 30306
Fully Leased with additional income potential. Three 1BR units. One 2BR unit
Each unit is individually metered for gas and electric.
Residents reimburse a flat fee for water use monthly.
Designated off-street parking lot for residents.
Street parking is free, no permit needed to park.
Additional Amenities
-10' Ceilings
-New stainless steel appliances
-Waterfall countertops
-Custom kitchen cabinetry
-Each unit is equip with washer/dryer
-Tiled bathrooms
-Pocket doors
-Gas appliances
-Google Fiber
-Coded access entry
Location
778 Argonne Ave Ne
Atlanta, GA 30306
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$110,900
|
$30.89
|
| Other Income |
$2,400
|
$0.67
|
| Vacancy Loss |
$3,300
|
$0.92
|
| Effective Gross Income |
$110,000
|
$30.64
|
| Taxes |
$16,500
|
$4.60
|
| Operating Expenses |
$21,500
|
$5.99
|
| Total Expenses |
$38,000
|
$10.58
|
| Net Operating Income |
$72,000
|
$20.06
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $110,900 |
| Annual Per SF | $30.89 |
| Other Income | |
|---|---|
| Annual | $2,400 |
| Annual Per SF | $0.67 |
| Vacancy Loss | |
|---|---|
| Annual | $3,300 |
| Annual Per SF | $0.92 |
| Effective Gross Income | |
|---|---|
| Annual | $110,000 |
| Annual Per SF | $30.64 |
| Taxes | |
|---|---|
| Annual | $16,500 |
| Annual Per SF | $4.60 |
| Operating Expenses | |
|---|---|
| Annual | $21,500 |
| Annual Per SF | $5.99 |
| Total Expenses | |
|---|---|
| Annual | $38,000 |
| Annual Per SF | $10.58 |
| Net Operating Income | |
|---|---|
| Annual | $72,000 |
| Annual Per SF | $20.06 |
PROPERTY FACTS
| Price | $1,285,000 | Building Class | C |
| Price Per Unit | $321,250 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 3,590 SF |
| Cap Rate | 5.84% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2020 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R5 - Residential | ||
| Price | $1,285,000 |
| Price Per Unit | $321,250 |
| Sale Type | Investment |
| Cap Rate | 5.84% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 3,590 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2020 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | R5 - Residential |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Ceiling Fans
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Stainless Steel Appliances
- Walk-In Closets
- Double Pane Windows
- Island Kitchen
- Office
- Window Coverings
SITE AMENITIES
- Controlled Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $2,023 | 700 - 850 |
| 2+1 | 1 | $2,245 | 900 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 14-0049-0006-038-8 | Total Assessment | $280,000 (2025) |
| Land Assessment | $41,000 (2025) | Annual Taxes | $16,500 ($4.60/SF) |
| Improvements Assessment | $239,000 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
14-0049-0006-038-8
Land Assessment
$41,000 (2025)
Improvements Assessment
$239,000 (2025)
Total Assessment
$280,000 (2025)
Annual Taxes
$16,500 ($4.60/SF)
Tax Year
2024
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778 NE Argonne Ave
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