1006 Greenwood Ave
Closed1006 Greenwood Ave, Atlanta, GA 30306
Property type
Multifamily
Unit / Space count
8
Price
$1,150,000
Building size
7,920 sf
Rentable area
7,920 SF
Year built
1920
Year renovated
Occupancy
Zoning code
Lot size
0.23 Acres
Sold/status
Sold · Date unknown
Sale price
$1150000
Bedroom count
Property description
1006 Greenwood Avenue is a charming 8-unit apartment building built in 1920 and located in the popular Virginia Highlands neighborhood of Atlanta. Virginia Highlands is one of Atlanta's most sought-after neighborhoods due to its close proximity to restaurants, shopping, parks, the Atlanta Beltline, Ponce City Market, and Freedom Parkway. Multifamily continues to experience low market vacancy and rapidly rising rents with the limited multifamily development in the neighborhood. 1006 Greenwood Avenue features an even mix of Large 1Bedroom 1Bathroom units and Studio apartments that are in extreme demand. These large units have additional space for storage and or an office and feature large balconies and central heat and air. Common amenities include on and off street parking, controlled access entry and on site laundry. The current ownership has recently raised the rent on a few units while remaining 100% occupied, illustrating the additional upside for an investor to continue to push rents to market.
Property highlights
- Recent Rental Increases on New Leases
- NOI Increase - 6.82% CAP
- 100% Occupied
- Low Market Vacancy
- Below Market Rents