208 Doane ST #10 Pending Save Request In-Person Tour Request Virtual Tour
Atlanta,GA 30315
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 10482025
HOA Y/N No
Year Built 1955
Annual Tax Amount $13,839
Tax Year 2024
Lot Size 9,539 Sqft
Acres 0.219
Lot Dimensions 9539.64
Property Sub-Type Multi Family
Source Georgia MLS 2
Property Description
Atlanta Leasing & Investment is proud to present an outstanding opportunity to acquire a 10-unit property located just 5 minutes from Georgia State University and steps from the vibrant Summerhill neighborhood. This prime asset offers quick access to I-85, ensuring seamless connectivity to Downtown Atlanta. This property generates strong immediate cash flow, with recent rent increases by the current owner. Market rents in the area range from $1,400 to $1,800 per month, providing a solid income stream. Additionally, the property presents a value-add opportunity Co strategic unit updates upon turnover could further maximize rental income. The property underwent interior renovations estimated at $200KCo$300K and exterior renovations estimated at $100K between 2017 and 2018. Currently operating at approximately a 7% cap rate, the property has the potential to reach 8% at market rents, making it an attractive and dependable investment with strong potential for appreciation and increased tenant demand. This is a rare chance to secure a high-performing asset in a rapidly growing market with excellent upside potential.
Location
State GA
County Fulton
Rooms
Basement Crawl Space
Interior
Heating Central
Cooling Central Air
Fireplace No
Exterior
Parking Features Attached
Community Features None
Utilities Available Other
View Y/N No
Garage Yes
Private Pool No
Building
Faces Turn left onto University Avenue SW (0.5 miles). Turn right onto Metropolitan Parkway SW (0.4 miles). Turn left onto Doane St SW. The destination will be on your right.
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction No
Schools
Elementary Schools Out Of Area
Middle Schools Sylvan Hills
High Schools Mh Jackson Jr
Others
HOA Fee Include None
Tax ID 14 007400020828
Special Listing Condition Resale