678 Moreland AveAtlanta, GA 30306

  • Other commercial real estate
  • 11,768 SF
For Sale
$3,200,000 View listing

Property Details for 678 Moreland Ave

Year built
1955
Construction
WOOD
Lot size
0.45 AC
Property size (Sq ft)
11,768 SF
Zone code
RG3
Property type
Other commercial real estate
APN
14 001600130263
APU
14001600130263

Description

This exceptional investment opportunity presents a newly renovated, 10-unit apartment building situated on a 0.452-acre lot in Atlanta's desirable Poncey-Highland neighborhood. The property boasts 13,000 square feet across three stories, featuring a mix of one, two, and three-bedroom units. Each unit has been completely updated, including new interiors, wiring, plumbing, and HVAC systems. Modern finishes such as white cabinetry, granite countertops, and stainless steel appliances are standard throughout. All units include in-unit laundry, and many feature eat-in kitchens or sunrooms. The substantial lot size offers significant potential for future development, adding to the property's considerable value. Its prime location places residents within walking distance of Freedom Park, providing easy access to the Atlanta BeltLine, Ponce City Market, and numerous parks. The property's proximity to Little Five Points, Inman Park, and Virginia Highlands ensures residents enjoy the vibrant intown lifestyle. The building is zoned Poncey-Highland SA-4, and the asking price is $3,200,000, with a pro-forma NOI of $180,832. The average household income within a one-mile radius is $142,935. This is a rare chance to acquire a high-performing multifamily asset in a highly sought-after Atlanta location. The property's strong cash flow, combined with its development potential, makes it an attractive investment for discerning buyers. The building's recent renovation ensures minimal capital expenditures are needed in the near future, maximizing returns for the investor. This is a truly unique opportunity to own a piece of Atlanta's thriving real estate market.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • Alternative Use

    Use
    Valuation
    Residential
    $1,852,182
    Hospitality
    $1,696,589
    Educational
    $1,411,542
    Medical
    $1,460,087
    Retail
    $2,195,732
678 Moreland Ave, Atlanta, Georgia

Location Insight

City
Atlanta
County
Fulton
State
Georgia
Latitude
33.7728
Longitude
-84.3494
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
$35,621
$293,000
$567,400
$860,400
-
$732,500
$1,418,500
$2,151,000

FAQs

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