14-Unit Value-Add Opportunity in Hapeville | 877 Virginia Ave
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14-Unit Value-Add Opportunity in Hapeville 877 Virginia Ave
14 Unit Apartment Building $1,850,000 ($132,143/Unit) Atlanta, GA 30354
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, as well as 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, 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.
- 100% occupied, 14-unit multifamily opportunity in highly sought-after Hapeville area
- All units are spacious 1 bed/1 bath flats in average condition, allowing for a cosmetic value-add opportunity as leases turnover
- Large open courtyard amenity space at the front of the building
- Off-street parking in the rear and side of the building
- Most units have been upgraded to central HVAC, and all units have new windows
- Roof replaced in 2019 with a 12 year warranty
- New gutters installed
- One main water heater for entire building, replaced in 2023
- Onsite laundry room
- Unique features: one unit with a private deck and another with a private enclosed sunroom and fenced patio
- Additional storage room on the second floor that could be converted to a bedroom, creating a 2 bed/1 bath unit
- All units feature eat-in kitchens and ample closet and storage space
- Highly visible corner parcel with two points of ingress/egress
- Excellent walkability to nearby restaurants and retail
- MARTA bus stop located in front of the property
- Close proximity to Delta Headquarters, Wells Fargo Headquarters, Porsche Headquarters, downtown Hapeville, and the Atlanta Airport
- Convenient access to I-85, I-75, and I-285, all just minutes away
- 100% occupied, 14-unit multifamily opportunity in highly sought-after Hapeville area
- All units are spacious 1 bed/1 bath flats in average condition, allowing for a cosmetic value-add opportunity as leases turnover
- Large open courtyard amenity space at the front of the building
- Off-street parking in the rear and side of the building
- Most units have been upgraded to central HVAC, and all units have new windows
- Roof replaced in 2019 with a 12 year warranty
- New gutters installed
- One main water heater for entire building, replaced in 2023
- Onsite laundry room
- Unique features: one unit with a private deck and another with a private enclosed sunroom and fenced patio
- Additional storage room on the second floor that could be converted to a bedroom, creating a 2 bed/1 bath unit
- All units feature eat-in kitchens and ample closet and storage space
- Highly visible corner parcel with two points of ingress/egress
- Excellent walkability to nearby restaurants and retail
- MARTA bus stop located in front of the property
- Close proximity to Delta Headquarters, Wells Fargo Headquarters, Porsche Headquarters, downtown Hapeville, and the Atlanta Airport
- Convenient access to I-85, I-75, and I-285, all just minutes away
Property Facts
| Price | $1,850,000 | Building Class | C |
| Price Per Unit | $132,143 | Lot Size | 0.49 AC |
| Sale Type | Investment | Building Size | 9,800 SF |
| No. Units | 14 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1960 |
| Apartment Style | Low Rise |
| Price | $1,850,000 |
| Price Per Unit | $132,143 |
| Sale Type | Investment |
| 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 |
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 |
PROPERTY TAXES
Parcel Number
14-0098-0002-031-7
Land Assessment
$67,600
Improvements Assessment
$119,960
Total Assessment
$187,560
zoning
| Zoning Code | U-V Urban Village (Apartment) |
| U-V Urban Village (Apartment) |
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14-Unit Value-Add Opportunity in Hapeville | 877 Virginia Ave
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