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478 Highland Ave Atlanta, GA 30307

Sponsored
For Sale
$4,180,000

19-unit apartment building, value-add opportunity.

Property size:
13,302 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional 19-unit multifamily property presents a compelling value-add investment opportunity in Atlanta's desirable Inman Park neighborhood. Located at 478 North Highland Avenue Northeast, this two-building complex boasts 13,302 square feet on a 0.78-acre lot (APN: 14 001500050132). The property features a mix of 1-bedroom/1-bathroom, 2-bedroom/1-bathroom, and 2-bedroom/1.5-bathroom units, with six units recently upgraded and thirteen in classic condition, offering significant potential for rent increases. Built in 1955, the property benefits from newer roofs (approximately 15 years old), off-street parking, on-site laundry facilities, and a fenced dog-run area. Currently operating at 100% occupancy, the property offers a pro-forma cap rate of 6.00% and is priced at $4,180,000 ($225,000 per unit). The property is zoned RG2 and enjoys a prime location across from popular restaurants and bars, within walking distance of downtown Inman Park, and with convenient access to the Eastside Atlanta Beltline Trail and a PATH trail directly behind. An attractive assumable debt further enhances this investment opportunity. This is a 1031 exchange eligible property.

Property Features for 478 Highland Ave

General Information

Property type
Multifamily properties
Square Feet
13,302 SF
Lot Size
33,977 SF

Building Details

Year Built
1955
Buildings
2
Stories
2
Units
19

HighLights

  • Highly desirable Inman Park, Atlanta location.
  • Across from popular restaurants and bars.
  • Walkable to Inman Park village and the Eastside Beltline.
  • Direct PATH trail access.
  • Value‑add opportunity: renovate 13 classic units to increase rents (6 units recently upgraded).
  • Unit mix: 1BR/1BA, 2BR/1BA, and 2BR/1.5BA.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Daycare Center Clothing Store

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

Location Insight

  • Map
  • Local Demand
City
Atlanta
County
Fulton
State
Georgia
Longitude
-84.352968775513
Latitude
33.766886806121

FAQs

What type of property is this?
Multifamily property - 19-unit apartment building, value-add opportunity.
Where is this multifamily property located?
The property is located at 478 Highland Ave Atlanta, GA.
What is the asking price?
The asking price for this property is $4,180,000.
What are key features of this property?
This property features: Highly desirable Inman Park, Atlanta location.; Across from popular restaurants and bars.; Walkable to Inman Park village and the Eastside Beltline.
More about this property
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