Renovated 8-Unit Apartment
New
For Sale
$1,700,000
2400 N Beverly Hills Drive, Chamblee, GA 30341
Chamblee, GA
Property Size7,109 SF
Price / SF$239.13
Days on Market2
Property Features for 2400 N Beverly Hills Drive
General Information
Property type
Residential Multi Family
Property subtype
Other
Elementary school
Dresden
Middle school
Sequoyah - DeKalb
High school
Cross Keys
Standard status
Active
Building Details
Year built
1963
Listing Agency:
South Fulton Office · Berkshire Hathaway HomeServices
(404) 777-9045
Listed By:
Willie Acree · License #313803
(404) 903-5313
Added: Aug 23
Last Checked: Aug 24 at 3:06PM
MLS# 7737106
Copyright © 2026 Berkshire Hathaway HomeServices Georgia Properties. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 7,109-square-foot apartment building contains 8 residential units and was renovated in 2017. Originally built in 1963, the property combines an established building profile with updated improvements. Current occupancy is 100%, providing an operating multifamily asset with existing residential tenancy.
The property is located in Chamblee, Georgia, within the Metro Atlanta area. Interstate 285 and Interstate 85 provide access to regional employment centers, retail areas, and surrounding communities.
RM-75 zoning and the existing site configuration are identified as supporting potential development of up to 24 apartment units, subject to applicable approvals. The property can therefore be evaluated as both an operating apartment asset and a possible future redevelopment site.
The property is located in Chamblee, Georgia, within the Metro Atlanta area. Interstate 285 and Interstate 85 provide access to regional employment centers, retail areas, and surrounding communities.
RM-75 zoning and the existing site configuration are identified as supporting potential development of up to 24 apartment units, subject to applicable approvals. The property can therefore be evaluated as both an operating apartment asset and a possible future redevelopment site.
Key Highlights
- 7,109‑square‑foot apartment building with 8 residential units
- 100% occupancy across the residential units
- Renovated in 2017; originally constructed in 1963
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
$95,503
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
5.62%
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%
$1,910,060
$1.9M
Cap Rate 7%
$1,364,329
$1.4M
Cap Rate 9%
$1,061,144
$1.1M
Market Conditions
NOI Build-Up for 7,109 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
$185.1K $26.04/SF
− Vacancy
−$11.5K −$1.61/SF
EGI
$173.6K $24.43/SF
− OpEx
−$78.1K −$10.99/SF
NOI
$95.5K $13.43/SF
Area
DeKalb County, GA
Vacancy
6.20%
Lease Rate
$26.04 /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%
$1,910,060
Cap Rate 7%
$1,364,329
Cap Rate 9%
$1,061,144
Alternative Uses
Best Use
Apartment 5plus
$1.36M
$1.19M – $1.59M
NOI $95,503 @ 7.0% cap · market cap 5.62%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,107 @ 7.0% cap · market cap 8.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,006
Businesses Nearby
Explore this area
Business Placement
Demographics for 30341, GA
35,959
Population
15,347
Households
2.3
Avg Household Size
33
Median Age
54%
College-Educated
86%
High-School Grad
10.0 sq mi
ZIP Area
3,596
Density / Sq Mi
$81,774
Median Household Income
$55,563
Median Earnings
$1,746
Median Rent
$438,500
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 - Renovated in 2017, the property is fully occupied and zoned RM-75.
Where is this apartment building located?
The property is located at 2400 N Beverly Hills Drive Chamblee, GA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: 7,109‑square‑foot apartment building with 8 residential units; 100% occupancy across the residential units; Renovated in 2017; originally constructed in 1963
