Student Housing Multifamily
For Sale
$1,000,000
879 Parsons Street SW, Atlanta, GA 30314
MULTI_FAMILY - Atlanta, GA
Property SizeContact for details
Lot Size0.10 Acres
Days on Market180
Property Features for 879 Parsons Street SW
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking
6
Parking features
Driveway
Subdivision
MAP/STEUERWALD PROP RESUB CORR
Lot features
Corner Lot, Level
View
City
Elementary school
M. A. Jones
Middle school
Herman J. Russell West End Academy
High school
Booker T. Washington
Directions
From I-20 W. Take exit 55A toward Lowery Blvd/West End. Merge onto Park St SW. Turn right onto Joseph E Lowery Blvd SW. Turn right onto Parsons St SW. Destination will be on the left
Standard status
Active
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
13366
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
2010
Floors in Building
2
Flooring type
Hardwood
Building materials
Brick, Cement Siding, Fiber Cement
Roof type
Composition
Listing Agency:
Keller Williams Buckhead · Keller Williams Realty
(404) 604-3800
Listed By:
Eve Hill
(404) 604-3800
Added: Feb 6
Changed: Jul 28
Last Checked: Aug 5 at 10:06PM
MLS# 7715525
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Investment Insights
Based on property information with market context.
This 14-unit property, offered at $1,000,000, presents a potential annual gross income of $159,600.00. Currently operating at 100% occupancy, it offers a current CAP rate of 9.85% with a potential to reach 11.35%. Constructed in 2010 specifically for student housing, the property is suitable for a 1031 exchange, DSCR loan, or a first-time investment utilizing a commercial conventional loan. The property consists of Side A and Side B, each featuring 7 rooms, 6 bathrooms, and full kitchens. Ten units include private bathrooms, while units B2, B3, A1, and A3 have shared bathrooms. Each side has access to shared kitchens and laundry areas. Key features of the property include new HVAC systems, water heaters, and keyless entry. Its location provides close proximity to Morehouse College, Georgia Tech, Spellman College, MARTA, and various shopping destinations. This turnkey investment offers immediate and strong cash flow.
Key Highlights
- High current CAP rate of 9.85% with potential to reach 11.35%
- 100% occupancy and potential annual gross income of $159,600.00
- Turnkey investment property built in 2010, designed for student housing
Property Analytics
Property Profile
Current Use
Lease Details
14
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,053
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
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Frequently Asked Questions
What type of property is this?
Apartment building - 14-unit property near universities with high income potential.
Where is this apartment building located?
The property is located at 879 Parsons Street SW 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: High current CAP rate of 9.85% with potential to reach 11.35%; 100% occupancy and potential annual gross income of $159,600.00; Turnkey investment property built in 2010, designed for student housing
