345 Lanier St - Apartments FOR SALE


Atlanta, GA 30318- Grove Park
$960,000 USD
404-876-1640
345 Lanier St, Atlanta, GA for Sale
$960,000 USD
Apartments - FOR SALE
1/32
null | Request Cap Rate

345 Lanier St
Atlanta, GA 30318
Grove Park


HIGHLIGHTS

  • Large front courtyard
  • All units have front balcony areas or patios
  • 17 off street parking spaces
  • In-unit laundry (combo washer/dryer units)
  • Fenced
  • Permanent storage shed attached to the building

OVERVIEW

Lender Forced Sale. Rare opportunity to buy a 16-unit apartment building at well below replacement cost in Atlanta's booming Westside. The property consists of 16 spacious two bedroom/ one bath units. The property was recently renovated throughout and has since become vandalized and distressed due to absentee ownership. Most units are close to rent ready with minor cosmetics and some new HVAC and appliances. 3 units are gutted and need full rehab. Sold "as is". No past financials or rent rolls available. Rents in the area range from $1,300-$1,400 for market rate tenants and upwards of $1,650 for subsidized programs. Property located off of Joseph E Boone Boulevard, just one block from West Lake Ave in the popular Grove Park neighborhood. Easy access to Downtown Atlanta.

FOR SALE DETAILS

PRICE

$960,000 USD

PRICE/SF

$72 USD /SF

# OF UNITS

16

PRICE/UNIT

$60,000

CAP RATE

Request Cap Rate

% LEASED

0%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add Multifamily Opportunity in Atlanta

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.77 AC

LAND SF

33,541 SF

ZONING

RG3

APN/PARCEL ID

14-0146-0012-047-3

ASK ABOUT THIS PROPERTY

Andy LundsbergBull Realty Inc.More Info
404-876-1640

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Andy LundsbergBull Realty Inc.More Info
404-876-1640

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.