692 Kirkwood Se Avenue, Atlanta, GA 30316
- $1,500,000
- List Price
- $1,500,000
- MLS#
- 7771315
- Status
- ACTIVE
- Type
- Multifamily
- Subtype
- Triplex
- Lot Size
- 0.034
- Subdivision
- Cabbage Town
Property Description
OWNER Financing Available for a portion of the price!! Building currently generates $5050 in income. Lower commercial level available for $5000/ month or use it for your office/ studio/ salon. Plus it appreciates. Plus you own a brick building in Cabbagetown one block from the BeltLine. 692 Kirkwood Avenue, Building C is a 4,000-square-foot mixed-use triplex in the heart of Cabbagetown. Brick exterior. Modern bones. Built in 2012. A commercial suite on the ground floor, two residential lofts above, five private parking spots, and a front-row seat to Cabbagetown Park. One block from the BeltLine Eastside Trail. The income math is already working. The lifestyle story sells itself. The Ground Floor: C1 Floor-to-ceiling storefront windows flood the 1600 sq. Ft. commercial suite with the kind of natural light that makes creative people productive and clients feel at ease. Polished concrete floors. Soaring ceilings. A conference room, a kitchenette, two bathrooms, hardwired fiber, security cameras, and dual entrances off both Kirkwood Avenue and the rear parking lot. This space has housed a CPA firm serving the Atlanta film industry. It could house yours. Or someone else's, at $4,500+ per month while you collect the check from upstairs. Upstairs: C2 and C3 Two side-by-side lofts, each approximately 1,200 square feet across three levels. Kitchen and living on the second floor. Loft bedroom and bath at the top, tucked under skylights with cable-rail balustrades and a clean architectural aesthetic detail that attracts tenants who take care of things. Private balconies with tree canopy views. In-unit washer and dryer. Long-term tenants generating $2,550 to $2,950 per month per unit, with rents up more than 60% since 2018.The demand does not waver. The Numbers Gross annual income at current market rents: $114,000. At a conservative 6.5% cap rate, the income approach supports a value well above the $1,500,000 list price. Freshly replaced HVAC across all three units. Turnkey commercial suite. Stable residential tenants. Mixed-use zoning you will not find anywhere else in this neighborhood. Cabbagetown Park is across the street. Carroll Street restaurants are three blocks over. Krog Street Market is a 5-minute walk. And did I mention there are five private off-street parking spots that come with this building… A cash cow gives you milk. This building gives you the whole farm.
Additional Information
- Stories
- Three Or More
- Construction
- Brick 4 Sides, Cement Siding
- Year Built
- 2012
- Neighborhood Amenities
- Near Shopping, Restaurant, Sidewalks, Street Lights
- Roof
- Composition
- Lot Dimensions
- x
- Parking
- Parking Lot, Paved
- Lot Desc
- Level
- Water
- Public
- Sewer
- Public Sewer
- Elementary School
- Parkside
- Middle School
- Martin L. King Jr.
- High School
- Maynard Jackson
- Acres
- 0.03
- Annual Expenses
- 20951
- Levels
- Three Or More
- Gross Income
- 110573
- Net Operating Income
- $81,808
- Taxes
- $13,167
Listing courtesy of Domo Realty.
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