tomo logo

$275,000

Beds
2
Baths
2.0
sq ft
1,256

215 Piedmont Ave NE Unit 1406, Atlanta, GA 30308

215 Piedmont Ave NE Unit 1406

Atlanta, GA 30308

  • 11 days on market
CASH FLOW JUGGERNAUT BUSINESS, NO RENTAL RESTRICTIONS, SHORT-TERM ALLOWED, Current Short-Term Business Annual Net Profit tops $16,000 after expenses PROFIT & LOSS STATEMENT & 5-YEAR PROFORM (Available upon request). Occupancy run rates over 80% per year. While Competitors focus on gross income, ask them about net profits. As an Owner/Agent, I am confident that few, if any, can match our level of transparency and detail. TAKE ADVANTAGE NOW The building is in the midst of an exciting transformation, with renovations underway following a major insurance claim. The finished renovations promise to enhance the property’s value and solidify its status as one of the most desirable high-rises in the Downtown area. Experienced and professional host offering education on property management. Uplisting Channel Management integrates All Three Major Booking Platforms to optimize occupancy and nightly rates. This hands-off business model is supported by an excellent cleaning service partnership that provides both cleaning and linens. Schlage electronic door locks are used to track and manage guest access.**********Largest of the floor plans, Two bedroom, Two Bathroom, Living room Dining room combination, with separate kitchen and storage room. Fully supplied and stocked. ALL FURNISHING INCLUDED. New luxury vinyl hardwood floors (AquaGuard/Floor & Decor waterproof flooring) in the hallway and both bedrooms. Freshly repainted a month ago. The coffee nook is brightly lit in the morning and a great place to enjoy morning coffee and watch the sunset! The main living-dining room combination is a comfortable, expansive place to gather and entertain or spread out for work calls. The kitchen boasts granite countertops, fully equipped with small appliances and cooking utensils for a meal. The primary bedroom offers great views and a privately renovated bathroom, all new tile, vanity, shower surround, rare in-unit washer and dryer. The second bedroom has access to the hall bathroom. This unit has a private supply closet with a digital combination lock—huge flat-screen TVs in every room, both bedrooms and living room—and premium quality hybrid mattresses.**********Building Bylaws allow for any rental lengths and no caps on the number of rentals. Perfect place to invest in a turn-key income-generating asset that is already cash-flowing and appreciating at the same time. The Landmark is one of the Downtown Atlanta skyline's most underrated buildings poised for skyrocketing appreciation. The homeowner association fee includes everything: 300 MB Xfinity Internet, Electricity, Heating, Cooling, Gas for cooking Range, Water, Sewer, 24-hour Concierge, plus all the HOA Amenities. One assigned parking space typically $55/night value, onsite 24-hour concierge, small fitness gym, full-size inground pool, and laundry facility available.

Details

Property type

Condominium

Est. home value

$238,585

Lot size

1,255 sq ft

Price per sq ft

$219

Year built

1963

Annual property taxes

$3,246

Monthly HOA fee

$1,274

Price History

12/10/2024
FMLS

FMLS #7495701

Listed
$275,000
+96.43%
10/07/2015
FMLS

FMLS #5541816

Sold
$140,000

Schools & Community

Neighborhood: 

Downtown

Elementary school: 

Centennial Place

Middle school: 

David T Howard

High school: 

Midtown

Community features: 

Park, Pool, Sidewalks, Street Lights

Number of units in community: 

205

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

Perimeter Mtg Funding

Loan start date

December 1997

Original loan amount

$77,000

Est. remaining balance

Not provided

Interest rate

7.21%

Loan type

New Conventional

Seller

John Morley and Lynn M Morley

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?

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Status: Active

Tomo last checked: 12/22/2024 at 12:45 AM

Listing updated: 12/21/2024 at 8:25 AM

Listed by: The Zac Team, RE/MAX Metro Atlanta Cityside Phone #: (404) 371-4419

MLS: FMLS #7495701

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