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 Market254
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
Site & Location
Neighborhood
Dixie Hills
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: Oct 18
Last Checked: Oct 24 at 2:30PM
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
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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 / Yr
$177,587
Cap Rate
5.92%
Suggested Prices Based on Cap Rates
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
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 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.
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Property Analytics
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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
