Value-Add Apartment
For Sale
Contact for pricing
2190 Verbena St NW, Atlanta, GA 30314
Brick 23-unit apartment community built in the late 1950s in the West Atlanta corridor.
Property Size16,100 SF
Price / SF$186.34
Days on Market207
Property Features for 2190 Verbena St NW
General Information
Standard status
Active
Size
16,100 SF
Class
C
Total Parking Spaces
24
Property subtype
Multifamily
Investment Type
Value Add
Building Details
Year Built
1950
Buildings
1
Stories
2
Units
23
Listing Agency:
Reggie Jackson Realty, LLC
Listed By:
Reginald Jackson · License #GA 108238
(404) 427-8797
Source:
Crexi
Added: Feb 13
Changed: Aug 31
Last Checked: Sep 7 at 7:37AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Reggie Jackson Realty, LLC
Investment Insights
Based on property information with market context.
Brick 23-unit apartment building built in the late 1950s, offering a value-add ownership opportunity. The property is described as having solid construction and efficient unit layouts.
Located in the West Atlanta corridor near Dixie Hills, the community is positioned for workforce housing demand associated with proximity to the Westside, downtown Atlanta, and major employment corridors.
This offering is for sale as a residential income property and is presented as an opportunity to pursue rent optimization and operational improvements.
Located in the West Atlanta corridor near Dixie Hills, the community is positioned for workforce housing demand associated with proximity to the Westside, downtown Atlanta, and major employment corridors.
This offering is for sale as a residential income property and is presented as an opportunity to pursue rent optimization and operational improvements.
Key Highlights
- Brick 23‑unit apartment community
- Built in 1950
- Value‑add opportunity with upside through rent optimization and operational improvements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$177,587
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,551,740
$3.6M
Cap Rate 7%
$2,536,957
$2.5M
Cap Rate 9%
$1,973,189
$2.0M
Market Conditions
NOI Build-Up for 16,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$338.1K $21.00/SF
− Vacancy
−$15.2K −$0.95/SF
EGI
$322.9K $20.06/SF
− OpEx
−$145.3K −$9.02/SF
NOI
$177.6K $11.03/SF
Area
Atlanta, GA
Vacancy
4.50%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,551,740
Cap Rate 7%
$2,536,957
Cap Rate 9%
$1,973,189
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,587 @ 7.0% cap · market cap 5.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $315,040 @ 7.0% cap · market cap 10.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
415
Businesses Nearby
Explore this area
Business Placement
Demographics for 30314, GA
20,598
Population
9,900
Households
2.1
Avg Household Size
29
Median Age
30%
College-Educated
84%
High-School Grad
4.6 sq mi
ZIP Area
4,478
Density / Sq Mi
$36,870
Median Household Income
$24,810
Median Earnings
$991
Median Rent
$210,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Brick 23-unit apartment community built in the late 1950s in the West Atlanta corridor.
Where is this apartment building located?
The property is located at 2190 Verbena St NW Atlanta, GA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Brick 23‑unit apartment community; Built in 1950; Value‑add opportunity with upside through rent optimization and operational improvements
