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$699,000

Beds
Unknown
sq ft
Unknown

1181 Garibaldi St SW, Atlanta, GA 30310

1181 Garibaldi St SW

Atlanta, GA 30310

  • 18 days on market
PLEASE READ THE FOLLOWING IN FULL BEFORE CALLING LISTING AGENT. WE RECEIVE MULTIPLE CALLS WITH THE SAME QUESTIONS EVERYDAY. PLEASE DO NOT CALL TO ASK QUESTIONS ANSWERED IN THE LISTING: Active = available. All units currently vacant. Every unit will need to be renovated. Reason for selling: seller is liquidating portfolio. All units are separately metered for electricity. Each unit has a window AC unit and gas space heater, no central air. Units are roughly 400 sq ft each. No onsite parking is included in this parcel. There is plenty of street parking. Adjacent lot is available for purchase from a different owner. Plumbing / electrical would likely need to be brought up to code. Building has a special use exemption for commercial apartment building zoning & therefore the structure cannot be modified in any way (can't build vertical). Don't miss this rare opportunity to own a 10 unit apartment building right in the heart of Atlanta. Located just a few miles south of downtown Atlanta, in the rapidly growing neighborhood of Pittsburgh, this property has the potential for huge financial returns. Not only is it situated directly across from a massive new mixed use development (Pittsburgh Yards), it is also located in a government designated "Opportunity Zone", which would allow an investor to defer and even reduce a large portion of any capital gains taxes. This is also a Beltline neighborhood with multiple large developments currently underway in the immediate area including the new food hall, Switchman Hall. Current average rent for a 1 bedroom unit in the area is $1491 however, if approved for Section 8 rentals, the maximum payment standard is $1850 for a 1/1 unit. .

Details

Property type

Lot size

5,001 sq ft

Price per sq ft

Unknown

Year built

1945

Annual property taxes

$6,695

HOA

No

Price History

10/25/2024
FMLS

FMLS #7477190

Listed
$699,000
-3.59%
10/23/2024
FMLS

FMLS #7468235

Removed
$725,000
10/08/2024
FMLS

FMLS #7468235

Listed
$725,000

Schools & Community

Neighborhood: 

Pittsburgh

Elementary school: 

Charles L. Gideons

Middle school: 

Sylvan Hills

High school: 

G.W. Carver

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

Hamilton St Bk

Loan start date

September 2007

Original loan amount

$229,533

Est. remaining balance

Not provided

Interest rate

6.59%

Loan type

Commercial, 3 year

Seller

Lrt Properties Llc

Lender

Nbank Na

Loan start date

September 2004

Original loan amount

$230,000

Est. remaining balance

Not provided

Interest rate

6%

Loan type

Commercial, 3 year

Seller

Lrt Properties Llc

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

Status: Active

Tomo last checked: 11/12/2024 at 5:35 PM

Listing updated: 10/31/2024 at 1:00 PM

Listed by: Marc Brenner, EXP Realty, LLC. Phone #: (888) 959-9461

MLS: FMLS #7477190

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