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1181 Garibaldi Street Sw, Atlanta

$725,000

0 Beds
0 Baths
0 Sqft
.11 Acres
0 Garages

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.

Essential Information
MLS® #7305104
Price$725,000
Bathrooms0.00
Acres0.11
Year Built1945
TypeResidential Income
Sub-TypeOther
StatusActive
Community Information
Address1181 Garibaldi Street Sw
SubdivisionPittsburgh
CityAtlanta
CountyFulton - GA
StateGA
Zip Code30310
Amenities
ParkingNone
ViewCity
WaterfrontNone
Utilities

Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available

Interior
HeatingSpace Heater
CoolingWindow Unit(s)
StoriesTwo
Exterior
Lot DescriptionOther
WindowsNone
RoofMetal
ConstructionBrick 4 Sides
School Information
ElementaryCharles L. Gideons
MiddleSylvan Hills
HighG.W. Carver
Listing Details
Listed By:EXP Realty, LLC.
Property History
Price Increased from $720,000 to $725,000
Status Changed from Active Under Contract to Active
Status Changed from Active to Active Under Contract
Price Reduced from $775,000 to $720,000

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Listing information last updated on July 12th, 2024 at 1:31pm EDT.

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