19-Unit Value-Add Multifamily Opportunity | 478 N Highland Ave NE
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19-Unit Value-Add Multifamily Opportunity 478 N Highland Ave NE
19 Unit Apartment Building $4,180,000 ($220,000/Unit) Atlanta, GA 30307
Investment Highlights
- Prime location in the highly sought after Inman Park neighborhood of intown Atlanta
- Walking distance to downtown Inman Park, with easy access to the Eastside Atlanta Beltline Trail
- Value-add opportunity to renovate units and increase rents (6 units have been recently upgraded, 13 units are in "classic" condition)
- Across the street from several popular restaurants/bars including Folk Art, Wisteria, The North Highland Pub and Amore e Amore
- PATH trail access directly behind the property. Newer roofs (±5 years). Off street parking. Onsite laundry.
- Mix of 2 bed/1.5 bath, 2 bed/1 bath and 1 bed/1 bath units. Fenced dog-run area. Attractive assumable debt.
Executive Summary
• Prime location in the highly sought after Inman Park neighborhood of intown Atlanta
• Across the street from several popular restaurants/bars including Folk Art, Wisteria, The North Highland Pub and Amore e Amore
• Walking distance to downtown Inman Park, with easy access to the Eastside Atlanta Beltline Trail
• PATH trail access directly behind the property
• Value-add opportunity to renovate units and increase rents (6 units have been recently upgraded, 13 units are in "classic" condition)
• Mix of 2 bed/1.5 bath, 2 bed/1 bath and 1 bed/1 bath units
• Newer roofs (±5 years)
• Off street parking
• Onsite laundry
• Fenced dog-run area
• Attractive assumable debt
• Across the street from several popular restaurants/bars including Folk Art, Wisteria, The North Highland Pub and Amore e Amore
• Walking distance to downtown Inman Park, with easy access to the Eastside Atlanta Beltline Trail
• PATH trail access directly behind the property
• Value-add opportunity to renovate units and increase rents (6 units have been recently upgraded, 13 units are in "classic" condition)
• Mix of 2 bed/1.5 bath, 2 bed/1 bath and 1 bed/1 bath units
• Newer roofs (±5 years)
• Off street parking
• Onsite laundry
• Fenced dog-run area
• Attractive assumable debt
Property Facts
| Price | $4,180,000 | Building Class | C |
| Price Per Unit | $220,000 | Lot Size | 0.78 AC |
| Sale Type | Investment | Building Size | 13,302 SF |
| No. Units | 19 | Average Occupancy | 94% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1955 |
| Apartment Style | Garden | Parking Ratio | 1.11/1,000 SF |
| Price | $4,180,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| No. Units | 19 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.78 AC |
| Building Size | 13,302 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 1955 |
| Parking Ratio | 1.11/1,000 SF |
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Site Amenities
- Laundry Facilities
- Pet Play Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 450 - 550 |
| 2+1 | 5 | - | 750 |
| 2+1.5 | 10 | - | 700 |
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Walk Score ®
Very Walkable (86)
Bike Score ®
Very Bikeable (74)
zoning
| Zoning Code | RG2, Atlanta |
| RG2, Atlanta |
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Andy Lundsberg -
Michael Wess, CCIM -
Bull Realty Inc.
(404) 876-1640
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19-Unit Value-Add Multifamily Opportunity | 478 N Highland Ave NE
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