521 Joseph E Lowery BlvdAtlanta, GA 30314

Property Details for 521 Joseph E Lowery Blvd

Year built

1930

Property size (Sq ft)

1,512 SF

Property type

Apartment buildings

Description

This renovated 1930s, 1-story, 1,512 sq ft rooming house in Atlanta, GA offers a compelling investment opportunity. Located on a 6,000 sq ft lot (APN: 14-0111-0001-169-9) and zoned R5, the property boasts five units with 100% occupancy as of September 28, 2023, generating a current NOI of $2,800 per month. The property underwent renovations in 2023 and features five well-appointed rooms, each designed for comfortable boarding. Current rental income includes three inherited tenants and two new tenants paying $625 and $650 respectively. Two additional tenants currently pay $535, with planned increases to $595, and one pays $500, with a planned increase to $565. This presents a strong potential for future revenue growth. The property's prime location in Atlanta offers easy access to local amenities, public transportation, and major thoroughfares, making it highly attractive to tenants. The asking price is $275,000, representing a strong return on investment for both seasoned and new investors. This turnkey solution provides immediate income and the potential for value appreciation through future management and upgrades. The property is investor-owned and represents a rare opportunity to acquire a stable, income-generating asset in a thriving Atlanta neighborhood.

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Latitude

33.769

Longitude

-84.4172

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