GA > Atlanta > Steuerwald
Atlanta, GA 30314,879 Parsons
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Atlanta, GA 30314,879 Parsons
Atlanta, GA 30314,879 Parsons
Atlanta, GA 30314,879 Parsons
Atlanta, GA 30314,879 Parsons
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Holly Nelson

Holly Nelson

+1(706) 455-7400
$ 1,200,000
Est. payment /mo
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Active

879 Parsons Atlanta, GA 30314

4,356 Sqft Lot

UPDATED:

12/27/2024 12:16 AM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Steuerwald

MLS Listing ID 10404726

HOA Y/N No

Originating Board Georgia MLS 2

Year Built 2010

Annual Tax Amount $10,600

Tax Year 2023

Lot Size 4,356 Sqft

Acres 0.1

Lot Dimensions 4356

Property Description

Offered at $1,200,000 with a CAP rate just under 8%, this 14-unit property at 879 Parsons St SW boasts a potential annual gross income of $137,100. Currently over 70% occupied with many tenants currently applying, itCOs a perfect 1031 exchange candidate or even for a first time investment. Built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full kitchens, plus private bathrooms in 10 units. Key features include new HVAC, water heaters, keyless entry, and close proximity to Morehouse, Georgia Tech, Spellman, MARTA, and shopping. This turnkey investment is a high-yield, easy-to-manage asset. Units B2, B3, A1, A3 have shared bathrooms, the rest have their own private bathrooms. 2 shared kitchens & 2 shared laundry sets/areas per side. Gross income: $79 500 Potential Gross income: $137 100 Annual expenses: $42089.08 Potential Annual expenses: $41521.08 Actual NOI: $37410.92 Potential NOI: $95578.92 There is 4 parking spots in the driveway that are not assigned and are first come first served, but plenty of street parking. Property is great for DSCR loan or even a 1031 exchange.

Location

State GA

County Fulton

Rooms

Basement None

Interior

Heating Central

Cooling Ceiling Fan(s), Central Air

Fireplace No

Exterior

Parking Features Off Street, Parking Pad

Garage Spaces 6.0

Community Features Sidewalks

Utilities Available Underground Utilities

View Y/N No

Total Parking Spaces 6

Garage No

Private Pool No

Building

Faces From I-20 W. Take exit 55A toward Lowery Blvd/West End. Merge onto Park St SW. Turn right onto Joseph E Lowery Blvd SW. Turn right onto Parsons St SW. Destination will be on the left

Foundation Slab

Sewer Public Sewer

Water Public

Structure Type Brick,Concrete

New Construction No

Schools

Elementary Schools Jones

Middle Schools Brown

High Schools Washington

Others

HOA Fee Include None

Tax ID 14 010900030420

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Special Listing Condition Resale

Georgia MLS - GAMLS
© 2025 Georgia Multiple Listing Service. All Rights Reserved.

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Holly Nelson

Associate Broker | License ID: 248829

+1(706) 455-7400

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879 Parsons