478 Highland Ave Atlanta, GA 30307
- Garden apartment buildings
- 8,990 SF
- 0.78 lot acres
Current Use by Public Records
- Garden apartment buildings
Property Details for 478 Highland Ave
- Year built
- 1955
- Construction
- WOOD
- Lot size
- 0.78 lot acres
- Property size
- 8,990 SF
- Zone code
- RG2
- Property type
- Garden apartment buildings
- APN
- 14 001500050132
- APU
- 14001500050132
Description
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.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.3536
- Latitude
- 33.7671
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
