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138 Lamar Avenue NW, Atlanta, GA 30314

For Sale

$1,990,000

0.7 acres

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Multi-Family (2-4 Units)
    Property type

  • Newly Listed
    Time on Century 21

  • 0.7 acres
    Lot size

  • Over 50 Years Old
    Age

Explore this Property

True Value-Add Opportunity in Atlanta s West End Area Exceptional investment potential in the Dixie Hills neighborhood, offering convenient access to nearby parks, I-20, and Downtown Atlanta. The current owner has made no efforts to increase rents or lease remaining vacancies in anticipation of a sale, leaving substantial upside on the table. Average in-place rents are only $800 per unit, well below market. This is not a cap-rate sale the property is approximately 90% occupied and being sold strictly as-is, representing a true value-add opportunity based on future performance rather than current income. 20 units feature 2-bed/1-bath floor plans in classic condition. An existing studio room with a full bathroom (currently used by maintenance) brings the total to 21 units. Each unit includes central HVAC, in-unit laundry connections, and separately metered electric and gas; water is master-metered. The property enjoys easy access to I-20, Downtown Atlanta, and the West End. Notably, a $75.5 million bond was issued last year for the redevelopment project directly across the street a strong signal of area revitalization and investor confidence. Comparable renovated units across the street rent for around $1,600 ($1500 if subsidized) per month, underscoring the significant rent growth potential. This is your chance to acquire a proven cash-flow opportunity in one of Atlanta s fastest-growing submarkets. Attractive financing is available.
MLS# 7683935

Courtesy Of TREND ATLANTA REALTY, INC.

(770) 777-1321

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.7 Acres

Map and Directions

Directions to 138 Lamar Avenue NW, Atlanta, GA 30314

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† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.