Renovated Multifamily Investment
For Sale
$1,000,000
2474 Moreland Avenue, Atlanta, GA 30315
Four-unit multifamily property with modern finishes and value-add potential.
Property Size4,232 SF
Lot Size0.42 Acres
Price / SF$236.29
Days on Market104
Property Features for 2474 Moreland Avenue
General Information
Standard status
Active
Size
4,232 SF
Lot size
0.42 Acres
Property subtype
Retail
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Jared Daley · License #331035
Source:
Bullrealty
Added: May 19
Changed: Aug 26
Last Checked: Aug 30 at 3:29PM
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 Bull Realty
Investment Insights
Based on property information with market context.
The Gardens of Magnolia Trails presents a recently gut-renovated, four-unit multifamily investment opportunity. The property features spacious two-bedroom, two-bathroom floorplans with modern interior finishes. Each unit includes an open-concept kitchen equipped with granite countertops and stainless steel appliances, in-unit laundry, and a private rear deck. The property is all-electric with separately metered utilities and central HVAC throughout. Situated on approximately 0.42 acres, the building encompasses approximately 4,232 square feet and provides eight to nine off-street surface parking spaces. Zoned RM75, the property is positioned along a major commercial corridor with traffic counts of approximately 34,400 vehicles per day. It benefits from strong visibility and excellent regional access to I-85 and I-285. The location is approximately 1.5 miles south of Interstate 285 and just over 5.5 miles north of downtown Atlanta. The property is conveniently positioned near I-85, I-285, Children's Healthcare of Atlanta, and the Centers for Disease Control and Prevention, offering strong accessibility within a highly desirable DeKalb County location. The surrounding industrial area serves numerous trucking, freight, logistics, and automotive-related businesses. Currently, the property is 75% occupied with value-add upside.
Key Highlights
- Recently gut‑renovated 4‑unit multifamily property with modern interior finishes.
- Spacious 2‑bedroom/2‑bathroom units feature open‑concept kitchens with granite countertops and stainless steel appliances.
- Convenient location near I‑85, I‑285, Children's Healthcare of Atlanta, and the Centers for Disease Control and Prevention.
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
$50,390
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
5.04%
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%
$1,007,800
$1.0M
Cap Rate 7%
$719,857
$719.9K
Cap Rate 9%
$559,889
$559.9K
Market Conditions
NOI Build-Up for 4,232 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
$76.2K $18.00/SF
− Vacancy
−$4.2K −$0.99/SF
EGI
$72.0K $17.01/SF
− OpEx
−$21.6K −$5.10/SF
NOI
$50.4K $11.91/SF
Area
Atlanta, GA
Vacancy
5.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,007,800
Cap Rate 7%
$719,857
Cap Rate 9%
$559,889
Alternative Uses
Best Use
Multifamily LT 5
$719.9K
$629.9K – $839.8K
NOI $50,390 @ 7.0% cap · market cap 5.04%
Second Best
Apartment 5plus
$666.9K
$583.5K – $778.0K
NOI $46,680 @ 7.0% cap · market cap 4.67%
Theoretical Best
Office A
$1.18M
$1.04M – $1.38M
NOI $82,810 @ 7.0% cap · market cap 8.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
210
Businesses Nearby
Explore this area
Business Placement
Demographics for 30315, GA
34,327
Population
15,458
Households
2.2
Avg Household Size
34
Median Age
28%
College-Educated
82%
High-School Grad
11.5 sq mi
ZIP Area
2,985
Density / Sq Mi
$42,383
Median Household Income
$36,311
Median Earnings
$989
Median Rent
$266,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit multifamily property with modern finishes and value-add potential.
Where is this quadplex located?
The property is located at 2474 Moreland Avenue Atlanta, GA.
What is the asking price?
The asking price for this property is $1,000,000.
What are key features of this property?
This property features: Recently gut‑renovated 4‑unit multifamily property with modern interior finishes.; Spacious 2‑bedroom/2‑bathroom units feature open‑concept kitchens with granite countertops and stainless steel appliances.; Convenient location near I‑85, I‑285, Children's Healthcare of Atlanta, and the Centers for Disease Control and Prevention.
