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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

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    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.
    Request Owner's contact information
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    478 Highland Ave Atlanta, GA 30307
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