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Historic Midtown Garden District Fourplex

833 Monroe Dr NE Atlanta, GA 30308

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Charming 1920s fourplex near Atlanta BeltLine and Piedmont Park.

Type:Multifamily
Property size:
10,020 SF
Price / SF:
$192.12/SF
Added:
Mar 20, 2026
Days on Market:
116
Last Refresh:
Jul 2 at 5:39 am

Property Features for 833 Monroe Dr NE

General Information

Standard status
Active
Size
10,020 SF
Property subtype
Multifamily

Building Details

Year Built
1920

Listing office COMMERCIAL REAL ESTATE ASSOCIATES

Listing date Mar 20, 2026

Source Crexi

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 COMMERCIAL REAL ESTATE ASSOCIATES


Investment Insights

Based on property information with market context.

This historic four-unit multifamily property is located in Atlanta's Midtown Garden District, near the Atlanta BeltLine and Piedmont Park. Constructed in the 1920s, this Charleston-style fourplex offers investment potential. The property includes a large lot and features four spacious units with 10-foot ceilings, hardwood floors, decorative fireplaces, and natural light. Each unit has separate gas and electricity meters, central HVAC, and in-unit laundry. A private parking lot at the rear accommodates 7 vehicles. The property is located within walking distance of Ponce City Market, Trader Joe's, Whole Foods, restaurants, coffee shops, and entertainment, with a Walk Score of 91. The property has a new roof (2025) and new windows (2022-23). Most major systems have been replaced. This property is suitable for investors, owner-occupants, or those looking to expand their Atlanta multifamily portfolio.

Key Highlights

  • Prime Midtown Garden District location: Steps from the Atlanta BeltLine and minutes from Piedmont Park, with a Walk Score of 91.
  • Strong income potential: Four spacious units with separate meters, central HVAC, and in‑unit laundry for easy management.
  • Rare large lot: Desirable for potential expansion in a high‑demand area.

Local Financial Insights For Multifamily LT 5

Simulate Cap Rate and NOI

NOI Build-Up
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.

Component $ $/SF
Gross rent $180.4k $18.00
− Vacancy −$9.9k −$0.99
EGI $170.4k $17.01
− OpEx −$51.1k −$5.10
NOI $119.3k $11.91
10,020 SF · lease $18.00/SF/yr · vacancy 5.50% · expense 30.00%

Alternative Uses

Best Use
Multifamily LT 5
$1.70M
$1.49M – $1.99M (±1% cap)
NOI $119,308 @ 7.0% cap · market cap 6.20%
Second Best
Apartment 5plus
$1.58M
$1.38M – $1.84M (±1% cap)
NOI $110,523 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office A
$2.80M
$2.45M – $3.27M (±1% cap)
NOI $196,068 @ 7.0% cap · market cap 10.19%
Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Shshhshe Coffee Production Facility

Suggested Use

Nursing Home Butcher Nursing Home Plumbing Service Mobile Phone Store (Bike/Boat/Book/etc) Store Furniture & Home Goods Electrical Service (Bike/Boat/Book/etc) Store Florist

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

FAQs

What type of property is this?
Quadplex - Charming 1920s fourplex near Atlanta BeltLine and Piedmont Park.
Where is this quadplex located?
The property is located at 833 Monroe Dr NE Atlanta, GA.
What is the asking price?
The asking price for this property is $1,925,000.
What are key features of this property?
This property features: Prime Midtown Garden District location: Steps from the Atlanta BeltLine and minutes from Piedmont Park, with a Walk Score of 91.; Strong income potential: Four spacious units with separate meters, central HVAC, and in‑unit laundry for easy management.; Rare large lot: Desirable for potential expansion in a high‑demand area.
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