678 Moreland Ave Atlanta, GA 30306
- Commercial real estate
- 11,768 SF
- 0.45 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 678 Moreland Ave
- Year built
- 1955
- Construction
- WOOD
- Lot size
- 0.45 lot acres
- Property size
- 11,768 SF
- Zone code
- RG3
- Property type
- Commercial real estate
- APN
- 14 001600130263
- APU
- 14001600130263
Description
This exceptional investment opportunity presents a newly renovated, 10-unit apartment building situated on a 0.452-acre lot in Atlanta's desirable Poncey-Highland neighborhood. The property boasts 13,000 square feet across three stories, featuring a mix of one, two, and three-bedroom units. Each unit has been completely updated, including new interiors, wiring, plumbing, and HVAC systems. Modern finishes such as white cabinetry, granite countertops, and stainless steel appliances are standard throughout. All units include in-unit laundry, and many feature eat-in kitchens or sunrooms. The substantial lot size offers significant potential for future development, adding to the property's considerable value. Its prime location places residents within walking distance of Freedom Park, providing easy access to the Atlanta BeltLine, Ponce City Market, and numerous parks. The property's proximity to Little Five Points, Inman Park, and Virginia Highlands ensures residents enjoy the vibrant intown lifestyle. The building is zoned Poncey-Highland SA-4, and the asking price is $3,200,000, with a pro-forma NOI of $180,832. The average household income within a one-mile radius is $142,935. This is a rare chance to acquire a high-performing multifamily asset in a highly sought-after Atlanta location. The property's strong cash flow, combined with its development potential, makes it an attractive investment for discerning buyers. The building's recent renovation ensures minimal capital expenditures are needed in the near future, maximizing returns for the investor. This is a truly unique opportunity to own a piece of Atlanta's thriving real estate market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,625,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,585,000
- 6.5%
- $2,800,000
- 7%
- $2,520,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,875,000
- Geo Method
- $2,575,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,705,000
- Retail
- $2,235,000
- Mixed-Use
- $2,940,000
- Hospitality
- $2,235,000
- Educational
- $2,945,000
- Residential Income
- $2,405,000
- Energy
- $3,085,000
- Income-Based Land
- $3,020,000
- Food Service
- $2,780,000
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.3494
- Latitude
- 33.7728
- CBSA code
- 12060
- CBSA name
- ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA
