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, it's 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. Property is great for DSCR loan or even a 1031 exchange.
Property Type(s):
Residential Income
|
Last Updated
|
4/24/2025
|
Tract
|
Steuerwald
|
|
Year Built
|
2010
|
County
|
Fulton
|
SCHOOLS
| Elementary School |
M. A. Jones |
| Jr. High School |
Herman J. Russell West End Academy |
| High School |
Booker T. Washington |
Additional Details
| AIR |
Ceiling Fan(s), Central Air |
| AIR CONDITIONING |
Yes |
| CONSTRUCTION |
Brick, Cement Siding, Fiber Cement |
| HEAT |
Central |
| LOT |
4347 sq ft |
| LOT DESCRIPTION |
Corner Lot, Level |
| LOT DIMENSIONS |
x |
| PARKING |
Driveway |
| SEWER |
Public Sewer |
| STORIES |
3+ |
| SUBDIVISION |
Steuerwald |
| TAXES |
10600 |
| UTILITIES |
Cable Available, Electricity Available, Phone Available, Sewer Available, Underground Utilities, Water Available |
| VIEW |
Yes |
| VIEW DESCRIPTION |
Trees/Woods |
| WATER |
Public |
| WATER ACCESS |
None |
Listing provided courtesy of Boulevard Homes, LLC
Location
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Data last updated: 4/24/25 2:06 AM PDT.
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