Skip To Content

1181 Garibaldi Street SW

Atlanta, GA 30310
  • $725,000
  • STATUS: Active
  • ON SITE: 187 Days
  • MLS #: 10227562
UPDATED: 79 min ago
$725,000
  • 0
    BEDS
  • 0.12
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
1945
County:
Area:

School Information

Elementary School:
Middle School:
High School:

Description

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.

Monthly Payment Calculator



Georgia MLS logo© 2024 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than The Jarrett Martin Group | Corcoran Classic Living are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or The Jarrett Martin Group | Corcoran Classic Living. Data last updated: 2024-05-28T20:10:28.337.
www.jarrettmartingroup.com/homes/145440607
Print Image

1181 Garibaldi Street SW Atlanta, GA 30310

  • Price: $725,000
  • Status: Active
  • On Site: 187 Days
  • Updated: 79 min ago
  • MLS #: 10227562
0
Beds
0
Baths
0
½ Baths
0.12
Acres
1945
Built
Neighborhood:
Pittsburgh
County:
Fulton
Area:
ATLANTA
Elementary School:
Gideons
Middle School:
Sylvan Hills
High School:
Carver
Property Description
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.
Exterior Features

Attached Garage YN No Carport YN No Construction Materials Concrete Garage YN No Levels Two Lot Size Area 5009.4 Lot Size Source Public Records Lot Size Units Square Feet Parking Features Off Street Parking Total 0

Interior Features

Above Grade Finished Area Units Square Feet Basement None Below Grade Finished Area Units Square Feet Building Area Units Square Feet Cooling Window Unit(s) Cooling YN Yes Fireplace YN No Fireplaces Total 0 Heating Other Heating YN Yes Living Area Units Square Feet

Property Features

Association Fee 0 Association Fee Includes None Association YN No Community Features Near Public TransportWalk To SchoolsNear Shopping Gross Income 0 New Construction YN No Property Condition Resale Property Sub Type Multi Family Sewer Public Sewer Structure Type Multi Family Tax Annual Amount 5365 Tax Year 2022 Utilities Other Water Body Name None Water Source Public

GAMLS logo Listing provided courtesy of eXp Realty: 888-959-9461. © 2024 Georgia Multiple Listing Service, Inc. All rights reserved. Information Deemed Reliable But Not Guaranteed.


Georgia MLS logo© 2024 Georgia Multiple Listing Service, Inc. All rights reserved. The data relating to real estate for sale or lease on this web site comes in part from GAMLS. Real estate listings held by brokerage firms other than The Jarrett Martin Group | Corcoran Classic Living are marked with the GAMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by GAMLS or The Jarrett Martin Group | Corcoran Classic Living. Data last updated: 2024-05-28T20:10:28.337.
 
https://bt-photos.global.ssl.fastly.net/gamls/orig_boomver_1_10227562-2.jpg https://bt-photos.global.ssl.fastly.net/gamls/orig_boomver_1_10227562-2.jpg https://bt-photos.global.ssl.fastly.net/gamls/orig_boomver_1_10227562-2.jpg
Logo
The Jarrett Martin Group | Corcoran Classic Living
940 Prince Ave STE C
Athens GA, 30606