10-Unit Apartment
New
For Sale
$1,050,000
407 Sunset Ave NW, Atlanta, GA 30314
R5-zoned apartment property with one- and two-bedroom units near Downtown Atlanta.
Property Size5,136 SF
Price / SF$204.44
Days on Market4
Property Features for 407 Sunset Ave NW
General Information
Standard status
Active
Size
5,136 SF
Property subtype
Multifamily
Zoning
R5
Occupancy
60%
Units
Unit Mix
8 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
10
Building Details
Building Size
5,136 SF
Year Built
1955
Listing Agency:
Bull Realty
(404) 876-1640
Listed By:
Andy Lundsberg
Source:
Tcnworldwide
Added: Aug 8
Changed: Aug 11
Last Checked: Aug 11 at 6:02AM
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.
This bank-owned apartment property contains 10 residential units in a building constructed in 1955. The unit mix includes eight one-bedroom, one-bath residences and two two-bedroom, one-bath residences. Current occupancy is 60%, providing a defined operating profile for review.
The property is located in English Avenue, south of West Midtown and Georgia Tech, with proximity to Downtown Atlanta. R5 zoning supports its multifamily classification. The existing unit configuration offers a mix of smaller and larger apartments within one residential asset.
The property is located in English Avenue, south of West Midtown and Georgia Tech, with proximity to Downtown Atlanta. R5 zoning supports its multifamily classification. The existing unit configuration offers a mix of smaller and larger apartments within one residential asset.
Key Highlights
- 10‑unit apartment property built in 1955
- Unit mix includes eight 1 BR / 1 BA and two 2 BR / 1 BA units
- Currently 60% occupied
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
$56,651
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
5.40%
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%
$1,133,020
$1.1M
Cap Rate 7%
$809,300
$809.3K
Cap Rate 9%
$629,456
$629.5K
Market Conditions
NOI Build-Up for 5,136 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
$107.9K $21.00/SF
− Vacancy
−$4.9K −$0.95/SF
EGI
$103.0K $20.06/SF
− OpEx
−$46.4K −$9.02/SF
NOI
$56.7K $11.03/SF
Area
Atlanta, GA
Vacancy
4.50%
Lease Rate
$21.00 /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%
$1,133,020
Cap Rate 7%
$809,300
Cap Rate 9%
$629,456
Alternative Uses
Best Use
Apartment 5plus
$809.3K
$708.1K – $944.2K
NOI $56,651 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,500 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
60%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,388
Businesses Nearby
Explore this area
Business Placement
Demographics for 30314, GA
20,598
Population
9,900
Households
2.1
Avg Household Size
29
Median Age
30%
College-Educated
84%
High-School Grad
4.6 sq mi
ZIP Area
4,478
Density / Sq Mi
$36,870
Median Household Income
$24,810
Median Earnings
$991
Median Rent
$210,300
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 - R5-zoned apartment property with one- and two-bedroom units near Downtown Atlanta.
Where is this apartment building located?
The property is located at 407 Sunset Ave NW Atlanta, GA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 10‑unit apartment property built in 1955; Unit mix includes eight 1 BR / 1 BA and two 2 BR / 1 BA units; Currently 60% occupied
