Two-Building Apartment
8841 Highway 54, Jonesboro, GA 30238
For Sale
$299,900
One structure has a partly updated two-bedroom, two-bathroom unit; the other is arranged for six apartments.
Property Size1,943 SF
Days on Market19
Property Features for 8841 Highway 54
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Units
Unit Mix
Multifamily Units
Additional Details
Sprinkler System
Amenities
0.28 acres, City Lot, Level
Public Sewer
Parcel Number: 05242B D001, Annual Amount: $2,554.51, Year: 2024
Central Air, Fans
Heat Pump
Listing ID: 10877309, Standard Status: Active, MLS Status: Active, On market as of 2026-10-22, 16 days on market
Parking Lot
Built in 1943, Construction Materials: Wood Siding
County/Parish: Clayton
Fixer
Electricity Available, High Speed Internet, Natural Gas Available, Phone Available, Water Source: Public
Close Of Escrow
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Southern Classic Realtors
(678) 635-8877
Listed By:
Kate Hayfer · License #395030
(678) 628-5283
Source:
Blackstreaminternational
Added: Oct 22
Changed: Nov 8
Last Checked: Nov 8 at 6:37AM
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 Southern Classic Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The 1943 property includes two buildings. One contains a two-bedroom, two-bathroom unit with kitchen and bathroom work largely completed; drywall and window repairs, possible flooring replacement, and cleanup remain. The second building is configured for two one-bedroom, one-bathroom apartments and four studio apartments. Renovation in that structure is incomplete, with portions exposed to the studs and some kitchen and bathroom work already done.
A sprinkler system has been installed in the second building, with fire department water access at the front of the property.
A sprinkler system has been installed in the second building, with fire department water access at the front of the property.
Key Highlights
- Two buildings on the property
- One building has a 2‑bedroom, 2‑bathroom unit
- Second building is configured for two 1‑bedroom, 1‑bathroom apartments and four studios
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,372
Cap Rate
8.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,440
$487.4K
Cap Rate 7%
$348,171
$348.2K
Cap Rate 9%
$270,800
$270.8K
Market Conditions
NOI Build-Up for 1,943 SF
Gross rent
$49.0K $25.20/SF
− Vacancy
−$4.7K −$2.39/SF
EGI
$44.3K $22.81/SF
− OpEx
−$19.9K −$10.26/SF
NOI
$24.4K $12.54/SF
Area
Clayton County, GA
Vacancy
9.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$487,440
Cap Rate 7%
$348,171
Cap Rate 9%
$270,800
Alternative Uses
Best Use
Apartment 5plus
$348.2K
$304.7K – $406.2K
NOI $24,372 @ 7.0% cap · market cap 8.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$543.1K
$475.3K – $633.7K
NOI $38,020 @ 7.0% cap · market cap 12.68%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
7
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
299
Businesses Nearby
Explore this area
Business Placement
Demographics for 30238, GA
41,617
Population
14,899
Households
2.8
Avg Household Size
34
Median Age
21%
College-Educated
85%
High-School Grad
17.3 sq mi
ZIP Area
2,406
Density / Sq Mi
$60,232
Median Household Income
$35,384
Median Earnings
$1,438
Median Rent
$208,200
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - One structure has a partly updated two-bedroom, two-bathroom unit; the other is arranged for six apartments.
Where is this apartment building located?
The property is located at 8841 Highway 54 Jonesboro, GA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two buildings on the property; One building has a 2‑bedroom, 2‑bathroom unit; Second building is configured for two 1‑bedroom, 1‑bathroom apartments and four studios
