Four-Unit
For Sale
$789,900
368 Irwin St Ne, Atlanta, GA 30312
Previously updated interiors now require repairs, with each residence offering a three-bedroom, two-bath layout.
Property Size3,360 SF
Price / SF$235.09
Days on Market12
Property Features for 368 Irwin St Ne
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
now needs some repairs
Units
Unit Mix
4 x 3BR/2BA
Multifamily Units
4
Listing Agency:
Keller Williams Realty River Cities
(706) 221-6900
Listed By:
Donna Dk Knowles Team
(706) 392-4930
Source:
Exprealty
Added: Sep 6
Changed: Sep 11
Last Checked: Sep 17 at 5:49AM
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 Keller Williams Realty River Cities
Investment Insights
Based on property information with market context.
This four-unit residential property contains approximately 3,360 square feet in total, with each residence measuring about 840 square feet. Every unit is configured with three bedrooms and two full bathrooms. The interiors were updated previously but now require repairs, providing a clear renovation component for the next owner.
The property is located at 368 Irwin St NE in Atlanta, near shopping, restaurants, and other local services. The seller is offering the entire four-unit complex together rather than as separate units. No seller disclosures are available, and the property is not being offered for lease. Proof of funds is required for showings and offers.
The property is located at 368 Irwin St NE in Atlanta, near shopping, restaurants, and other local services. The seller is offering the entire four-unit complex together rather than as separate units. No seller disclosures are available, and the property is not being offered for lease. Proof of funds is required for showings and offers.
Key Highlights
- Four‑unit residential complex offered as one property
- Each unit includes 3 bedrooms and 2 full baths
- Approximately 840 square feet per unit
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
$40,008
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
5.06%
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%
$800,160
$800.2K
Cap Rate 7%
$571,543
$571.5K
Cap Rate 9%
$444,533
$444.5K
Market Conditions
NOI Build-Up for 3,360 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
$60.5K $18.00/SF
− Vacancy
−$3.3K −$0.99/SF
EGI
$57.2K $17.01/SF
− OpEx
−$17.1K −$5.10/SF
NOI
$40.0K $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%
$800,160
Cap Rate 7%
$571,543
Cap Rate 9%
$444,533
Alternative Uses
Best Use
Multifamily LT 5
$571.5K
$500.1K – $666.8K
NOI $40,008 @ 7.0% cap · market cap 5.06%
Second Best
Apartment 5plus
$529.5K
$463.3K – $617.7K
NOI $37,062 @ 7.0% cap · market cap 4.69%
Theoretical Best
Office A
$939.2K
$821.8K – $1.10M
NOI $65,747 @ 7.0% cap · market cap 8.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
7,972
Businesses Nearby
Explore this area
Business Placement
Demographics for 30312, GA
25,435
Population
15,787
Households
1.6
Avg Household Size
34
Median Age
65%
College-Educated
92%
High-School Grad
3.3 sq mi
ZIP Area
7,708
Density / Sq Mi
$75,963
Median Household Income
$70,268
Median Earnings
$1,594
Median Rent
$493,800
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
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Frequently Asked Questions
What type of property is this?
Quadplex - Previously updated interiors now require repairs, with each residence offering a three-bedroom, two-bath layout.
Where is this quadplex located?
The property is located at 368 Irwin St Ne Atlanta, GA.
What is the asking price?
The asking price for this property is $789,900.
What are key features of this property?
This property features: Four‑unit residential complex offered as one property; Each unit includes 3 bedrooms and 2 full baths; Approximately 840 square feet per unit
