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239 Howard St NE 6 Unit Apartment Building $4,032,473 CAD ($672,079 CAD/Unit) 5.54% Cap Rate Atlanta, GA 30317
Investment Highlights
- 239 Howard Street NE is home to an updated complex offering six two-bedroom, two-and-a-half-bath units.
- Currently fully occupied, these highly demanded units present strong cash flow.
- Surrounded by other residential nodes in the suburbs of Atlanta’s submarket with accessibility to Interstate 20.
- Atlanta’s Kirkwood neighborhood is highly sought-after, with annual events and community engagement.
Executive Summary
City Realty Advisors, LLC is pleased to present 239 Howard Street NE - a must-see investment opportunity to purchase a renovated six-unit, 100% leased townhouse apartment community in the residential heart of the historic tree-lined Kirkwood neighborhood of Atlanta. No detail has been overlooked when updating these six 2-bedroom/2.5-bath townhouse units. The main levels feature full-size kitchens with ample cabinet storage, quartz countertops, stainless steel appliances, and a large living room area with a convenient half bathroom. Upstairs, each of the two bedrooms has private full bathrooms. Each unit has new windows, ample natural light, stacked washer/dryer systems, and central HVAC. The property's exterior also features a new roof, painted brick facade, and updated landscaping. The property provides ample off-street parking.
This investment offers a generational opportunity to acquire an irreplaceable multifamily property in a high-barrier-to-entry Atlanta submarket. Given the limited supply of multifamily properties in the Kirkwood submarket, a new owner is likely to enjoy rent growth and capital appreciation in the long term. The property could provide further upside to a future owner through a potential lot subdivision, adding additional unit density to the overall project.
Only four miles from midtown Atlanta, the Kirkwood neighborhood features charming historic Victorian and Craftsman-style homes with tremendous walkability to nearby restaurants in Kirkwood Village (featuring El Mariachi, Petite Marche, Evergreen Butcher + Baker, and Ardens Garden) and walking trails, including the Atlanta Beltline. Kirkwood is a close-knit community with many neighborhood events, including the annual Spring Fling and Kirkwood Wine Crawl. Nearby Pratt-Pullman Yards feature other restaurants and a growing art scene. Eastlake Corners, Oakhurst, and Downtown Decatur provide further amenities just a short drive away.
This investment offers a generational opportunity to acquire an irreplaceable multifamily property in a high-barrier-to-entry Atlanta submarket. Given the limited supply of multifamily properties in the Kirkwood submarket, a new owner is likely to enjoy rent growth and capital appreciation in the long term. The property could provide further upside to a future owner through a potential lot subdivision, adding additional unit density to the overall project.
Only four miles from midtown Atlanta, the Kirkwood neighborhood features charming historic Victorian and Craftsman-style homes with tremendous walkability to nearby restaurants in Kirkwood Village (featuring El Mariachi, Petite Marche, Evergreen Butcher + Baker, and Ardens Garden) and walking trails, including the Atlanta Beltline. Kirkwood is a close-knit community with many neighborhood events, including the annual Spring Fling and Kirkwood Wine Crawl. Nearby Pratt-Pullman Yards feature other restaurants and a growing art scene. Eastlake Corners, Oakhurst, and Downtown Decatur provide further amenities just a short drive away.
Property Facts
| Price | $4,032,473 CAD | Building Class | B |
| Price Per Unit | $672,079 CAD | Lot Size | 0.63 AC |
| Sale Type | Investment | Building Size | 5,642 SF |
| Cap Rate | 5.54% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1947/2024 |
| Property Subtype | Apartment | Parking Ratio | 2.66/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R6 - Apartments- Garden | ||
| Price | $4,032,473 CAD |
| Price Per Unit | $672,079 CAD |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.63 AC |
| Building Size | 5,642 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1947/2024 |
| Parking Ratio | 2.66/1,000 SF |
| Zoning | R6 - Apartments- Garden |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2.5 | 6 | - | 940 |
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Property Taxes
| Parcel Number | 15-211-02-153 | Improvements Assessment | $327,769 CAD |
| Land Assessment | $121,230 CAD | Total Assessment | $448,999 CAD |
Property Taxes
Parcel Number
15-211-02-153
Land Assessment
$121,230 CAD
Improvements Assessment
$327,769 CAD
Total Assessment
$448,999 CAD
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239 Howard St NE
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