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368 Mell Avenue

Atlanta, GA 30307

$998,500

Calling on all investors looking to claim their stake in one of the hottest areas in the AMA, Candler Park Neighborhood! This needle in the haystack quadruplex lies directly across the street from the entrance of Candler Park Recreation Area, and just a five minute walk from restaurants such as: Fellini’s, La Fonda, El Gato, Candler Park Market and the Flying Biscuit. The property is also located near the Freedom Park Trail which leads to the BeltLine Trail, as well as Edgewood Shopping Center, L5P, and the hip Inman Park.Just a reminder this property can also be transformed into a single family home. Originally built in 1910, this property includes four 1B/1BA apartments with original charm such as vintage hardwood floors, intricate trim molding, antique fireplaces and original casement windows, as well as a great backyard with a fire pit. The Home has ample parking including a driveway and a parking lot directly across the street. All current tenants in good standing and up to date on rent. Current annual NOI is $32,219. However, the current owner is occupying one of the units, which has been recently updated, and is willing to stay and rent the unit for $1,600/month. This would change future NOI to $51,419. With a few updates, the other units could be leased at a higher rate as well, further increasing the NOI and future residual value. Time to make hay while the sun shines!!!

    MLS Data

  • StatusActive
  • MLS #6850425
  • TypeResidential Income

    Exterior Details

  • ConstructionVinyl Siding
  • Built In1910
  • StoriesOne
  • ParkingParking Lot
  • SewerPublic Sewer
  • Lot Dimensions69X100
  • Acres0.2

Listing Provided Courtesy Of: Keller Knapp, Inc.

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Data Last updated on April 22, 2021 9:46pm


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