314 5th NE St Atlanta, GA 30308-2055

Property Details for 314 5th NE St

Year built

1920

Construction

WOOD

Lot size

0.12 lot acres

Property size

7,155 SF

Zone code

R5

Property type

Garden apartment buildings

APN

14 004800050257

APU

14004800050257

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in Atlanta's coveted Midtown neighborhood. Boasting a 6.40% cap rate and a current NOI of $121,436, this stabilized property offers predictable cash flow. The building, constructed in 1925 and extensively renovated in 2021, features six one-bedroom, one-bathroom units (three with sunrooms), one two-bedroom, one-bathroom unit with a sunroom, and one studio unit. All units include updated kitchens with stainless steel appliances and granite countertops, in-unit stackable washer/dryers, renovated bathrooms, fresh paint, and new flooring. Building amenities include a secured entry, outdoor spaces, private decks/patios for rear units, and three dedicated off-street parking spaces. Individual gas and electric meters for each unit enhance efficiency. Google Fiber is available. The property's prime location offers easy access to Piedmont Park, Midtown, Downtown, and the Atlanta Beltline, presenting strong potential for short-term rentals, corporate housing, or Airbnb. The building's exterior renovations include new roofs and windows. The property is currently 100% occupied, with an occupancy date of October 22, 2024. The permitted zoning is R5. This is a turnkey investment in a high-growth area, with recent comparable home sales exceeding $2.5 million. The asking price is $1,895,000, or $236,875 per unit.

Location Insight

City

Atlanta

County

Fulton

State

Georgia

Longitude

-84.3771

Latitude

33.7756

CBSA code

12060

CBSA name

ATLANTA-SANDY SPRINGS-MARIETTA, GA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments