UPDATED:
01/15/2025 04:11 AM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Hunter Hills
MLS Listing ID 7509136
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1940
Annual Tax Amount $716
Tax Year 2023
Lot Size 8,267 Sqft
Acres 0.1898
Property Description
For the forward-thinking investor, the basement offers untapped potential. With a licensed general contractor's bid of just $35,000, the basement can be transformed into a third unit, a studio apartment that generates $1,500 per month in Section 8 rents. This single upgrade takes your total monthly rental income to $4,800, turning this property into a high-yielding, three-unit asset.
Certified with an appraised value of $335,000, the property is already a high-performing investment. Two long-term Section 8 tenants are set to move into Units A and B on February 5, 2025, providing instant and stable income. With separate gas meters, managing operating costs across multiple units becomes seamless—ideal for investors looking to minimize expenses while maximizing returns.
This home is located in the C22 Rent Area, one of the highest-paying zones for the Atlanta Housing Authority. This strategic placement ensures top-tier rental rates and consistent demand. The property's ability to command premium rents, combined with its potential for a swift and cost-effective upgrade, makes it an exceptional choice for investors seeking long-term cash flow and equity growth.
With a potential annual income of $57,600, this asset delivers a strong return on investment. For cash buyers, the benefits are even more compelling—no delays, no financing headaches, and immediate ownership of a high-performing property. The streamlined path to profitability is clear, backed by a well-documented contractor bid and rental map guidance from the Atlanta Housing Authority.
The opportunity to secure a cash-generating property like this doesn't come often. Whether you're looking to expand your portfolio or lay the foundation for long-term passive income, this home is the perfect addition to your strategy.
Act now to schedule a walkthrough, review the detailed financials, and seize the chance to turn this property into your next success story. With the tenants ready to move in and the basement conversion primed for action, the time to invest is now.
Location
State GA
County Fulton
Lake Name None
Interior
Heating Central
Cooling Ceiling Fan(s), Central Air
Flooring Vinyl
Window Features Window Treatments
Exterior
Parking Features Paved, Varies by Unit
Fence None
Community Features Other
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Underground Utilities, Water Available
Waterfront Description None
View City
Roof Type Asbestos Shingle
Accessibility None
Handicap Access None
Total Parking Spaces 2
Private Pool false
Building
Lot Description Other
Story One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Aluminum Siding,Vinyl Siding
New Construction No
Construction Status Resale
Schools
Elementary Schools F.L. Stanton
Middle Schools John Lewis Invictus Academy/Harper-Archer
High Schools Frederick Douglass
Others
Senior Community no
Acceptable Financing 1031 Exchange, Cash, VA Loan
Listing Terms 1031 Exchange, Cash, VA Loan
Special Listing Condition None
