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$1,200,000

Beds
Unknown
sq ft
Unknown

879 Parsons St SW, Atlanta, GA 30314

879 Parsons St SW

Atlanta, GA 30314

  • 13 days on market
Offered at $1,200,000 with a CAP rate just under 8%, this 14-unit property at 879 Parsons St SW boasts a potential annual gross income of $137,100. Currently over 70% occupied with many tenants currently applying, it’s a perfect 1031 exchange candidate or even for a first time investment. Built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full kitchens, plus private bathrooms in 10 units. Key features include new HVAC, water heaters, keyless entry, and close proximity to Morehouse, Georgia Tech, Spellman, MARTA, and shopping. This turnkey investment is a high-yield, easy-to-manage asset. Units B2, B3, A1, A3 have shared bathrooms, the rest have their own private bathrooms. 2 shared kitchens & 2 shared laundry sets/areas per side.

Details

Property type

Est. home value

$608,508

Lot size

4,347 sq ft

Price per sq ft

Unknown

Year built

2010

Annual property taxes

$10,600

HOA

No

Price History

10/30/2024
FMLS

FMLS #7477483

Listed
$1,200,000
+65.52%
05/17/2021
FMLS

FMLS #6827250

Sold
$725,000
+35.01%
11/21/2018
FMLS

FMLS #5981429

Sold
$537,000

Schools & Community

Neighborhood: 

Atlanta University Center

Elementary school: 

M. A. Jones

Middle school: 

Herman J. Russell West End Academy

High school: 

Booker T. Washington

Community features: 

Sidewalks

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

Truist Bank

Loan start date

May 2021

Original loan amount

$510,000

Est. remaining balance

Not provided

Interest rate

3.18%

Loan type

Commercial, 5 year

Seller

Berkley Ventures 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 3:15 PM

Listing updated: 11/05/2024 at 3:05 PM

Listed by: Eve Hill, Boulevard Homes, LLC Phone #: (678) 439-0100

MLS: FMLS #7477483

FMLS logo

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