856 Monroe Dr Atlanta, GA 30308
- Commercial real estate
- 6,905 SF
Current Use by Public Records
- Commercial real estate
Property Details for 856 Monroe Dr
- Year built
- 1920
- Property size
- 6,905 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents two adjacent multifamily buildings in Atlanta's vibrant Midtown neighborhood, situated on Monroe Drive NE. The property comprises a triplex at 856 Monroe Drive NE and a quadruplex at 852 Monroe Drive NE, totaling seven units with 100% occupancy. The buildings, constructed in 1920 and extensively renovated in 2020, boast a combined 6,905 square feet on a 16,644 square foot lot. The unit mix includes three two-bedroom/one-bathroom units, two one-bedroom/one-bathroom units, and one studio apartment. Two of the two-bedroom units are unique two-story layouts. Twelve off-street parking spaces are available for residents. The property benefits from its prime location, steps from the Beltline and Piedmont Park, ensuring high rental demand. The RG5 zoning provides flexibility for future development. With a current 5.00% cap rate and the potential for rental rate increases through minimal cosmetic upgrades, this offering presents a compelling combination of immediate income and long-term appreciation potential. The asking price is $2,100,000. This is a rare chance to acquire a well-maintained, fully occupied multifamily portfolio in one of Atlanta's most desirable locations.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Atlanta
- County
- Fulton
- State
- Georgia
- Longitude
- -84.3703031
- Latitude
- 33.7778846
