$725,000
1181 Garibaldi ST SW Atlanta, GA 30310
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Listed by Marc Brenner • eXp Realty
$725,000
Est. payment /mo
5,009 Sqft Lot
Active
1181 Garibaldi ST SW Atlanta, GA 30310
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Pittsburgh
MLS Listing ID 10227562
Construction Status Resale
HOA Y/N No
Year Built 1945
Annual Tax Amount $5,365
Tax Year 2022
Lot Size 5,009 Sqft
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. 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. 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.
Location
State GA
County Fulton
Rooms
Basement None
Interior
Heating Other
Cooling Window Unit(s)
Exterior
Garage Off Street
Community Features Walk To Public Transit, Walk To Schools, Walk To Shopping
Utilities Available Other
Building
Story Two
Sewer Public Sewer
Level or Stories Two
Construction Status Resale
Schools
Elementary Schools Gideons
Middle Schools Sylvan Hills
High Schools Carver
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