For Sale
$1,411,000

985 Greenwood AveAtlanta, GA 30306

High-Yield Investment Opportunity in Atlanta

Overview

Added:
Dec 11, 2024
Days on market:
115
This 8-unit apartment building, located at 985 Greenwood Ave NE in Atlanta, GA 30306, presents a compelling investment opportunity. Built in 1963, the property boasts approximately 4,800 square feet on a sizable 0.23-acre lot, offering a density of 35. Each of the eight one-bedroom, one-bathroom units features approximately 600 square feet, with hardwood floors, large walk-in closets, and a linen closet. While some units have stainless steel appliances, most feature white or black appliances. The units are equipped with window unit air conditioning and wall-unit heating. Each unit offers two entry doors for added convenience. Residents enjoy 8 off-street parking spaces accessible via a back alley on Fredrica Street. The building features a crawl space, and the roof is approximately 15 years old. Note that there are no washer/dryer hookups. The property's electrical system utilizes copper wiring, and plumbing is primarily PVC, with some galvanized sections. Current average rent is $1,100 per unit, while market average rents are conservatively estimated at $1,650, suggesting significant upside potential. The asking price is $1,411,000.

Highlights

  • 8-unit apartment building built in 1963.
  • Average rent $1,100/unit; market average $1,650/unit.
  • 4,800 square feet gross building area.
  • 600 square feet average unit size.
  • Eight one-bedroom, one-bathroom units.
  • 0.23-acre lot with a density of 35.

Property Details for 985 Greenwood Ave

Property type
Apartment buildings
Square Feet
4,800 SF
Year Built
1963
Units
8

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.7764401
Longitude
-84.3550785
985 Greenwood Ave, Atlanta, Georgia

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985 Greenwood Ave
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