tomo logo

$425,000

Beds
5
Baths
2.0
sq ft
Unknown

1516 Murphy Ave SW, Atlanta, GA 30310

1516 Murphy Ave SW

Atlanta, GA 30310

  • 10 days on market
Welcome to an incredible investment opportunity at 1516 Murphy Ave SW. This unique single-family home is zoned Commercial, and can present itself as a promising triplex, ideal for savvy investors and those looking to capitalize on rental income. This 5 bedroom 2 bath home has been remodeled and hosts a long term tenant providing a way to subsidize the time you need to rezone and process the permits necessary to build a Triplex! Situated in the Sylvan Hills neighborhood, this rental property offers more than just potential – it's positioned just moments away from the Beltline, a hub of recreation, culture, and community connectivity. Haven’t you heard the news? Atrium Health purchased 40 Acres a mile down the road *New Hospital Development* Plus Murphy Crossing *New Mixed Use Development* West End Mall *New Mixed Use Development* Just minutes away from Westview Commercial District, Lee + White’s mixed use-Warehouse Row, Gordon White Park, Lean Draft House, Pittsburg Yards! This calculates to over a Billion Dollars in Development a mile down the road!! Buy and hold and capitalize for the future! Don't miss this chance to invest in your future and take advantage of the endless possibilities that 1516 Murphy Ave SW presents. With future triplex plans and producing potential income-generating units, coupled with proximity to the Beltline, this property invites visionaries to turn it into a lucrative endeavor. Architectural Plans Available with purchase! Embrace the opportunity to enhance this space, capitalizing on the thriving rental market, and the allure of the Beltline lifestyle. ***Tenants in place, please do not disturb*** **SHOWING DURING DUE DILIGENCE ONLY **

Details

Property type

Single Family Residence

Est. home value

$353,120

Property condition

Updated/Remodeled

Lot size

4,874 sq ft

Price per sq ft

Unknown

Year built

1920

Annual property taxes

$4,297

HOA

No

Price History

12/12/2024
FMLS

FMLS #7497026

Listed
$425,000
+347.37%
03/07/2017
FMLS

FMLS #5767839

Sold
$95,000
+18.75%
05/09/2014
FMLS

FMLS #5198564

Sold
$80,000

Schools & Community

Neighborhood: 

Sylvan Hills

Elementary school: 

T. J. Perkerson

Middle school: 

Sylvan Hills

High school: 

G.W. Carver

Community features: 

None

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

Kiavi Funding

Loan start date

November 2023

Original loan amount

$304,500

Est. remaining balance

$0

Interest rate

7.19%

Loan type

New Conventional, 1 year

Seller

Pegasus Capital Group Llc

Lender

Residential Cap Partners Secured Loan Fu

Loan start date

April 2023

Original loan amount

$266,409

Est. remaining balance

Not provided

Interest rate

6.73%

Loan type

Commercial, 1 year

Seller

Pegasus Capital Group 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?

Similar Homes Nearby

Price drop
FMLS
$384,000
5 bd
|
3 ba
|
House

1123 Arlington Ave SW, Atlanta, GA 30310

Price drop
GeorgiaMLS
$389,000
4 bd
|
2 ba
|
1,550 sq ft
|
House

1476 Olive St SW, Atlanta, GA 30310

FMLS
$394,990
4 bd
|
2 ba
|
1,290 sq ft
|
House

1089 Indale Pl SW, Atlanta, GA 30310

Status: Active

Tomo last checked: 12/22/2024 at 10:20 AM

Listing updated: 12/19/2024 at 12:20 AM

Listed by: Melissa Michel, Trend Atlanta Realty, Inc. Phone #: (770) 777-1321

MLS: FMLS #7497026

FMLS logo

Recently listed in Atlanta