314 5Th StAtlanta, GA 30308

  • Residential income properties
  • 7,155 SF
For Sale
$1,895,000 View listing

Property Details for 314 5Th St

Year built
1920
Construction
WOOD
Lot size
0.12 AC
Property size (Sq ft)
7,155 SF
Zone code
R5
Property type
Residential income properties
Property subtype
Garden apartment buildings
APN
14 004800050257
APU
14004800050257

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in Atlanta's coveted Midtown neighborhood. Boasting a 6.40% cap rate and a current NOI of $121,436, this stabilized property offers predictable cash flow. The building, constructed in 1925 and extensively renovated in 2021, features six one-bedroom, one-bathroom units (three with sunrooms), one two-bedroom, one-bathroom unit with a sunroom, and one studio unit. All units include updated kitchens with stainless steel appliances and granite countertops, in-unit stackable washer/dryers, renovated bathrooms, fresh paint, and new flooring. Building amenities include a secured entry, outdoor spaces, private decks/patios for rear units, and three dedicated off-street parking spaces. Individual gas and electric meters for each unit enhance efficiency. Google Fiber is available. The property's prime location offers easy access to Piedmont Park, Midtown, Downtown, and the Atlanta Beltline, presenting strong potential for short-term rentals, corporate housing, or Airbnb. The building's exterior renovations include new roofs and windows. The property is currently 100% occupied, with an occupancy date of October 22, 2024. The permitted zoning is R5. This is a turnkey investment in a high-growth area, with recent comparable home sales exceeding $2.5 million. The asking price is $1,895,000, or $236,875 per unit.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,362,279
    6.5%
    $1,257,488
    7%
    $1,167,668
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,098,903
    Geo Method
    $2,163,264
  • Alternative Use

    Use
    Valuation
    Residential
    $1,257,488
    Hospitality
    $1,151,852
    Educational
    $958,328
    Medical
    $991,286
    Retail
    $1,490,732
314 5Th St, Atlanta, Georgia

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.7756
Longitude
-84.3771
CBSA code
12060
CBSA name
ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,259
$160,000
$425,960
$585,960
-
$400,000
$1,064,900
$1,464,900

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