14-Unit Value-Add near ATL Airport and Delta 877 Virginia Ave 14 Unit Apartment Building $1,700,000 ($121,429/Unit) 7.75% Cap Rate Atlanta, GA 30354
INVESTMENT HIGHLIGHTS
- 100% occupied, 14-unit multifamily opportunity in highly sought-after Hapeville area.
- All units are spacious one-bed/ one-bath flats in average condition, allowing for a cosmetic value-add opportunity as leases turnover.
- Highly visible corner parcel in walking distance of nearby restaurants and retail with convenient access to I-85, I-75, and I-285.
- Proximity to headquarters of Delta, Wells Fargo, Porsche, downtown Hapeville, Atlanta Airport, plus a MARTA bus stop in front of the property.
- Large courtyard amenity space, off-street parking, on-site laundry, new gutters, and a 12-year warranty on the roof, which was replaced in 2019.
- Additional storage room on the second floor that could be converted to a bedroom, creating a two-bed/ one-bath unit.
EXECUTIVE SUMMARY
Rare opportunity to acquire a 14-unit value-add multifamily property in a prime, irreplaceable location. Situated on Virginia Avenue, this property is highly walkable to surrounding retail and restaurants and key landmarks like the Delta Air Lines Headquarters, Delta Flight Museum, and downtown Hapeville. Additionally, a public bus stop is conveniently located right in front of the property. Just steps from Hartsfield-Jackson Atlanta International Airport, the property is ideally positioned to attract airport employees and Delta staff, and could even serve as a short-term rental for flight crews, pilots, or other travelers seeking close proximity to the airport. This highly visible corner parcel also presents an excellent future commercial redevelopment opportunity as the area continues to grow.
PROPERTY FACTS
| Price | $1,700,000 |
| Price Per Unit | $121,429 |
| Sale Type | Investment |
| Cap Rate | 7.75% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 9,800 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Zoning | U-V Urban Village - Apartment |
AMENITIES
SITE AMENITIES
- Courtyard
- Laundry Facilities
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 700 |
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PROPERTY TAXES
| Parcel Number | 14-0098-0002-031-7 | Improvements Assessment | $119,960 |
| Land Assessment | $67,600 | Total Assessment | $187,560 |
