778 NE Argonne Ave 4 Unit Apartment Building $1,500,000 ($375,000/Unit) 5% Cap Rate Atlanta, GA 30308
INVESTMENT HIGHLIGHTS
- Boutique renovated apartment building located on Argonne Ave in the center of Midtown offers great value and large floor plans.
- Hardwood floors, stainless steel appliances, garbage dispsal, dishwasher, microwave, washer/dryer.
- This building is walking distance to Midtown shops and restaurants and Piedmont Park.
EXECUTIVE SUMMARY
Boutique renovated apartment building located on corner of Argonne Avenue and 5th Street, in the center of Midtown Atlanta offers great value and large floor plans. This building is walking distance to Ponce de Leon a thoroughfare for shopping and restaurants, and Piedmont Park.
Hardwood floors
10' Ceilings
Tiled bathrooms
Coded access entry
Off-street parking
Location
778 Argonne Ave Ne
Atlanta, GA 30306
Hardwood floors
10' Ceilings
Tiled bathrooms
Coded access entry
Off-street parking
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 |
-
|
-
|
| Effective Gross Income |
$113,300
|
$31.56
|
| Taxes |
$16,500
|
$4.60
|
| Operating Expenses |
$21,500
|
$5.99
|
| Total Expenses |
$38,000
|
$10.58
|
| Net Operating Income |
$75,300
|
$20.97
|
PROPERTY FACTS
| Price | $1,500,000 |
| Price Per Unit | $375,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| 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 |
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- Granite Countertops
- Hardwood Floors
- High Speed Internet Access
- Ice Maker
- Stainless Steel Appliances
- Walk-In Closets
- Built-In Bookshelves
- Double Pane Windows
- Island Kitchen
- Window Coverings
SITE AMENITIES
- Controlled Access
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $2,250 | 700 - 850 |
| 2+1 | 1 | $2,495 | 900 |
1 of 1
Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 14-0049-0006-038-8 | Total Assessment | $401,640 (2023) |
| Land Assessment | $41,000 (2023) | Annual Taxes | $16,500 ($4.60/SF) |
| Improvements Assessment | $360,640 (2023) | Tax Year | 2024 |
ZONING
| Zoning Code | R5 (Residential) |
