Active
1181 Garibaldi Street SW
Atlanta GA, 30310
$725,000
Active
Other
Built in 1945
Don't miss this rare opportunity to own a 10 unit apartment building right in the heart of Atlanta. Located just a few miles south of downtown Atlanta, in the rapidly growing neighborhood of Pittsburgh, this property has the potential for huge financial returns. Not only is it situated directly across from a massive new mixed use development (Pittsburgh Yards), it is also located in a government designated "Opportunity Zone", which would allow an investor to defer and even reduce a large portion of any capital gains taxes. This is also a Beltline neighborhood with multiple large developments currently underway in the immediate area including the new food hall, Switchman Hall. Current average rent for a 1 bedroom unit in the area is $1491 however, if approved for Section 8 rentals, the maximum payment standard is $1850 for a 1/1 unit. Another option would be to scrape the lot and build a larger apartment building. Either way, there is a huge opportunity here for the experienced investor. PLEASE READ THE FOLLOWING IN FULL BEFORE CALLING LISTING AGENT: All units currently vacant. There is only street parking currently available for this building which the city may take issue with. The adjacent lot, which would allow for parking, may be for sale at the right price, per the current owner. Contact info for negotiations will be provided upon request. Buyer must do their own due diligence with the City of Atlanta & Pittsburgh Neighborhood Association to ensure intended use of the property conforms with all local laws. All units are separately metered for electricity. Each unit has a window AC unit and gas space heater. Units are roughly 400 sq ft each and estimated rehab costs would be 10k-20k per unit.
7305104
MLSⓇ ID
November 21, 2023
Listed
September 17, 2024
Updated
Map
1181 Garibaldi Street SW
Atlanta GA, 30310
Interior Features
Total Stories
2
Fireplace
No
Cooling
Yes
Cooling Description
Window Unit(s)
Heating
Yes
Heating Description
Space Heater
Exterior/Building Features
Lot Size
0.11 Acres
Lot Features
Other
Roof
Metal
Sewer
Public Sewer
School Information
High School
G.W. Carver
Elementary School
Charles L. Gideons
Other Property Details
Taxes
$5,365
Tax Frequency
Annually
Days on Market
125
Garage
No
Parking
None
View
Yes
View Description
City
County
Fulton - GA
Water Source
Public
Pool
No
Green Building Features
Green Features
None
Listing History
Date | Event | Price |
---|---|---|
4/23/2024 | Price change | $725,000 0% |
4/18/2024 | Active | — |
3/21/2024 | Under contract | — |
2/24/2024 | Price change | $720,000 -8% |
Listed by Marc Brenner with EXP Realty, LLC. 888-959-9461
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Data last updated 4:49 PM UTC, 9/17/2024