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550 Joseph E Lowery Blvd NW
Atlanta, GA 30314
Multifamily Property For Sale
·
7 Units
INVESTMENT HIGHLIGHTS
- This is not a strong cap rate deal/opportunity
- Fully occupied building with reliable tenants.
- In a rapidly developing neighborhood.
- Strong demos in the surrounding area.
EXECUTIVE SUMMARY
THIS IS NOT A CAP RATE DEAL. NO OWNER FINANCING. 7-UNIT APARTMENT BUILDING IN GREAT LOCATION! 1.5 miles from Georgia Tech. 1.8 miles from downtown Atlanta. 1.5 miles from West Midtown. 1.6 miles from Mercedes Benz Stadium, 1.7 miles to Georgia Aquarium. Six (6) of the seven (7) units are currently under lease contracts. 7th unit is available for viewing. Each unit - 2bd, 1 bath. Central Air & Heat. Totally electric. This Apartment Building sits in the English Avenue area, .05 miles from Vine City Community. There are several up and coming work and entertainment projects being developed in the general area. Renovations and updates will be needed to enhance the property’s overall market appeal. Property being Sold “AS IS”. THIS OPPORTUNITY DOES NOT REPRESENT A CAP RATE DEAL IN ITS CURRENT CONDITION!
Please review the attached documentation for more information. One of the units has been recently vacated and is available to show. Contact listing agent at 770-883-2708 for additional information and showing instructions.
Please review the attached documentation for more information. One of the units has been recently vacated and is available to show. Contact listing agent at 770-883-2708 for additional information and showing instructions.
PROPERTY FACTS
| Price Per Unit | $172,923 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.24 AC |
| Sale Condition | Deferred Maintenance | Building Size | 4,875 SF |
| No. Units | 7 | Average Occupancy | 85% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low-Rise | Parking Ratio | 1.44/1,000 SF |
| Zoning | R5 - Multifamily | ||
| Price Per Unit | $172,923 CAD |
| Sale Type | Investment |
| Sale Condition | Deferred Maintenance |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 4,875 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.44/1,000 SF |
| Zoning | R5 - Multifamily |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Tile Floors
- Kitchen
- Hardwood Floors
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 7 | $1,141 CAD | 697 |
PROPERTY TAXES
| Parcel Number | 14-0114-0003-127-2 | Improvements Assessment | $277,506 CAD |
| Land Assessment | $48,418 CAD | Total Assessment | $325,924 CAD |
PROPERTY TAXES
Parcel Number
14-0114-0003-127-2
Land Assessment
$48,418 CAD
Improvements Assessment
$277,506 CAD
Total Assessment
$325,924 CAD
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