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    Multifamily Property with Assigned Parking Title is generated by Realmo AI

    623 Nassau Street, Forest Park, GA 30297

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    For Sale
    $490,000

    MULTI_FAMILY - Forest Park, GA

    Added:
    May 30, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 1:06 pm

    Property Features for 623 Nassau Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Assigned
    Standard status
    Active
    APN
    13114C A014

    Taxes and HOA fees

    Tax Year
    25
    Tax Annual Amount
    3752

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Central
    Cooling system
    Central Air, Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1967
    Floors in Building
    2
    Number of units
    5
    Building materials
    Brick, Press Board, Synthetic Stucco

    We can help!

    Listing Contact
    Angelica Diaz
    Angelica Diaz

    Listing agent Angelica Diaz License #307342

    Listing office Keller Williams Realty Atl. Partners 303 Corporate Center Drive, Suite 100, Stockbridge, GA

    Listing date May 30, 2026

    MLS# 10775292 Listing URL

    Copyright © 2026 Georgia Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Construction materials include brick, press board, and synthetic stucco; built in 1967.
    • Central heating with central air and ceiling fans.
    • Roof replaced in 2019; HVACs replaced/updated in 2019; water heater is about 6 years old.
    • Public water and public sewer.
    • Each unit has assigned parking; landlord pays all utilities and trash, and rent currently includes utilities.
    • Unit 1 is currently vacant; it was previously rented for $1,500. Most units are on month‑to‑month with no current lease; unit 2 is the exception.

    Overview

    This multifamily residential income property includes multiple units with assigned parking for each unit. According to the provided remarks, Unit 1 is currently vacant but was previously rented for $1,500. Most units (with the exception of Unit 2) are on a month-to-month basis with no current lease, and rent currently includes utilities. The landlord pays all utilities and trash, and the remarks note that no washer and dryer are allowed in the units.

    Reported improvements include a roof replacement in 2019, water heater installed approximately 6 years ago, and HVACs replaced in 2019. The listing also describes the property as located in Forest Park, GA, with 7.3 miles to Atlanta International Airport and 3.6 miles to the Farmers Market, while shopping and restaurants are less than 2 miles away.

    For an owner-occupant or investor, the current occupancy mix and month-to-month structure may simplify near-term rent management decisions. With utilities and trash handled by the landlord and several units not tied to active leases, the property may align with buyers seeking a manageable operating model while updating and re-leasing units, as needed.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Forest Park
    County
    Clayton
    State
    Georgia
    Longitude
    -84.3705052
    Latitude
    33.5851169

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    FAQs

    What type of property is this?
    Apartment building - Landlord-paid utilities and trash plus assigned parking across units offer a straightforward setup for a residential income buyer.
    Where is this apartment building located?
    The property is located at 623 Nassau Street Forest Park, GA.
    What is the asking price?
    The asking price for this property is $490,000.
    What are key features of this property?
    This property features: Construction materials include brick, press board, and synthetic stucco; built in 1967.; Central heating with central air and ceiling fans.; Roof replaced in 2019; HVACs replaced/updated in 2019; water heater is about 6 years old.
    (404) 379-3060
    We can help!
    Listing Contact
    Angelica Diaz
    Angelica Diaz
    Real Estate License ID: 307342
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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