Building Details

Year built 1963

Listing Agency: South Fulton Office · Berkshire Hathaway HomeServices c***@bhhsgeorgia.com Show Phone

Listed By: Willie Acree · License #313803 Show Phone

Added: Aug 25 Changed: Sep 12 Last Checked: Sep 13 at 5:06PM

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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 apartment building contains 8 residential units and is currently 100% occupied. Built in 1963 and renovated in 2017, the property combines established construction with updated improvements. The asset is positioned as a continuing apartment operation, with RM-75 zoning supporting its existing multifamily use.

The site is in Chamblee within the Metro Atlanta area, with access to Interstate 285 and Interstate 85. The zoning and site configuration are identified as capable of supporting development of up to 24 apartment units, creating an option to retain the current 8-unit configuration or pursue greater density. The property is also described as an income-producing asset with current occupancy in place.

Key Highlights

• 8 residential units
• 100% occupancy
• Renovated in 2017; originally built 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 (±1% cap)

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 (±1% cap)

NOI $139,107 @ 7.0% cap · market cap 8.18%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Apartment buildings

Suggested Use

Top Pick Parking Lot & Garage (Bike/Boat/Book/etc) Store Locksmith Electrical Service Veterinary Clinic Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

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Frequently Asked Questions

What type of property is this?

Apartment building - Renovated, fully occupied apartment property with RM-75 zoning and access to major transportation routes in Chamblee.

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: 8 residential units; 100% occupancy; Renovated in 2017; originally built in 1963