Value-Add Apartment
2190 Verbena St NW Atlanta, GA 30314
For Sale
Contact for pricing
Brick 23-unit apartment community built in the late 1950s in the West Atlanta corridor.
Property Size16,100 SF
Price / SF$155.28
Days on Market160
Property Features for 2190 Verbena St NW
General Information
- Standard status
- Active
- Size
- 16,100 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1950
Listing Agency:
Reggie Jackson Realty, LLC
(404) 427-8797
Listed By:
Reginald Jackson · License #GA 108238
Source:
Crexi
Added: Feb 13
Changed: Jul 22
Last Checked: Jul 22 at 6:05AM
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 For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $338.1k | $21.00 |
| − Vacancy | −$15.2k | −$0.95 |
| EGI | $322.9k | $20.06 |
| − OpEx | −$145.3k | −$9.02 |
| NOI | $177.6k | $11.03 |
16,100 SF · lease $21.00/SF/yr · vacancy 4.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.54M
$2.22M – $2.96M
NOI $177,587 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.50M
$3.94M – $5.25M
NOI $315,040 @ 7.0% cap · market cap 12.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Verbena HOPE Foundation ...
Apartment Building
Power Window Repair
Auto Repair Shop
Lil Rod on the way ...
Apartment Building
FAQs
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 $2,500,000.
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
