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Property profile & analytics
OFF-MARKET
Estimated value
$1,040,000
Garden apartment buildings
2181 Martin Luther King Jr SW Dr Atlanta, GA 30310-1157
Entity Owned
1-yr Hold
Property ID
US22-1404184
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1960
Construction
WOOD
Total area
4,500 SF
Lot
0.15 ac (6,534 SF)
Zoning code
RG3
APN
14 018000020290
UPID
US22-1404184
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.04M
CAP Approach
CAP
$765k
Comparable Approach
Comparable
$1.17M
Blend (final)
Blend
$1.04M
Owner & transaction history
2181 Mlk Drive LLC · 1 yrs held
2181 Mlk Drive LLC
since 2024
Last sale
$1.0M
7 recorded transactions
Zoning & alternative use
RG3 · Atlanta, GA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+41.9%
Neighborhood: shopping center
$1.2M
+37.4%
Medical building
$1.2M
+37.2%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Atlanta submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Atlanta submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,040,000
ML approach
$1,040,000
CAP Approach
CAP Return
Estimation
6%
$825,000
6.5%
$765,000
7%
$710,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$890,000
Current use
COMMERCIAL (GENERAL)
$1,265,000
Change: +42% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,225,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$1,225,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,145,000
Change: +28% · Conversion: Difficult
OFFICE BUILDING
$1,055,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$1.04M
Range $936k – $1.14M · ±10% · vs last sale $1.04M (Dec 3 2024)
Last sale anchor
$1.04M
Dec 3 2024
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$231 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,081
Tax year 2023
Assessed value
$171,040
Assessed 2023
Previous assessed
$66,280
+158.1% YoY
Effective rate
4.14%
On assessed value
Assessed land
$28,000
Assessed improvement
$143,040
Land market value
$70,000
Improvement market value
$357,600
Total market value
$427,600
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1960
Construction
WOOD
Heating
YES
Cooling
YES
Stories
1
Units
7
Bathrooms
1
Total area
4,500 SF
Lot
0.15 ac (6,534 SF)
Zoning code
RG3
APN
14 018000020290
UPID
US22-1404184
Jurisdiction
FULTON
Zoning & alternative use
RG3 · Atlanta, GA
Zoning RG3 · permitted uses
RG3 · Atlanta, GA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Atlanta. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$890,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
1
Units
7
Bathrooms
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
2181 Mlk Drive LLC
Entity
Mailing address
1718 PEACHTREE ST NW STE #550, ATLANTA, GA 30309-2527
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 3, 2024
$1,040,000
2181 Mlk Drive LLC
Mlk Drive Flats LLC
Warranty Deed
$30,000 · Malas Mohannad Trust
Aug 24, 2022
$440,000
Mlk Drive Flats LLC
Sfr Atl Owner 8 LP
Warranty Deed
$640,000 · Macoy Rai
Jul 24, 2020
$1,515,400
Sfr Atl Owner 8 LP
Nations Capital LLC
Grant Deed
—
May 26, 2016
—
Nations Capital LLC
—
Deed
related
$2,500,000 · Harriet Frederick
Jun 10, 2015
$95,000
Nations Capital LLC
Branch Bkng & Trust Co
Grant Deed
related
—
Feb 17, 2015
$97,750
Branch Bkng & Trust Co
Tang,tinh & Mui D
Trustees Deed
related
—
Aug 13, 2012
$165,000
Tang,tinh & Mui
Perez-hodgson,karen A
Grant Deed
$132,000 · Branch Bk&tr
Jun 5, 2009
$85,000
Perez-hodgson,karen A
Ib Property Holdings LLC
Grant Deed
—
May 28, 2009
$85,000
Karen A Perez-hodgson
Ib Property Holdings LLC
Grant Deed
—
Apr 17, 2007
$223,900
Lino,alvin J
Mcbride,denise
Grant Deed
$176,000 · Metwest Com'l Lndr
Apr 12, 2007
$223,875
Alvin J Lino
Mc,bride Denise
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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