689 Myrtle Street, Atlanta, GA 30308

$1,225,000
Sold Price
$1,225,000
List Price
$1,345,000
Closing Date
Apr 19, 2023
MLS#
7189826
Status
CLOSED
Type
Multifamily
Subtype
Quadruplex
Lot Size
0.1481
Subdivision
Moon Roberts & Black

Property Description

4-unit, beautifully-renovated multifamily opportunity. 100% occupancy. Excellent location in Midtown, Atlanta near all of the city's amenities. Large front porch and spacious rear decks and patios. Off-street parking in front and rear of the building for all units. Large, front common foyer; perfect for secured-bike storage. Within 2 miles of Piedmont Park, Inman Park, Midtown, Virginia-Highland, GA Tech, Little Five Points, and Downtown Atlanta. Rent roll = $96,924 annually Water = $2,400 HOI = $4,812 Property tax = $16,933.17 Repairs = $13,450 Net operating income = $59,328.83 Cap rate 4.4% In-unit washers and dryers in all. Dishwashers in all but the studio. Separately metered gas and electricity for all units. Unit A and C3 are all electric. Separate basement utility room. Unit A is a 3bd/2ba (or 2b w/ office) on the top floor, 1440 sqft, rented through 7/31/23 at $2,950. Unit B is a 2bd/1ba on the main floor, 1220 sqft, rented through 3/31/24 at $1995. Unit C1 is a 2bd/2ba on the garden level, 1050 sqft, rented through 5/31/23 at $1737. Unit C3 is a 0bd/1ba on the garden level, 296 sqft, rented through 1/31/24 at $1395. HVAC split systems from 2012-2019. 4 water heaters, 3 from 2020 and 1 from 2012. 6 parking spots: 5 in the back and 1 in the front Common foyer for bikes Party fence owned by 693 Myrtle St Chain link fence owned by Mary Mac's Hardy board siding less than 10 years old Roof and gutters less than 10 years old Recently replaced decking The property is a legally nonconforming quad, despite R-5 zoning.

Additional Information

Stories
Three Or More
Construction
Wood Siding
Year Built
1920
Neighborhood Amenities
None
Roof
Shingle
Lot Dimensions
x
Parking
Driveway, Parking Lot
Lot Desc
Sloped
Water
Public
Sewer
Public Sewer
Elementary School
Morningside-
Middle School
Autrey Mill
High School
Midtown
Acres
0.15
Dock
None
Levels
Three Or More
Taxes
$16,933

Listing courtesy of All County Cumberland Property Management. Selling Office: Berkshire Hathaway HomeServices Georgia Properties.

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