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

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