$ 1,200,000
879 Parsons ST SW Atlanta, GA 30314
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Listed by Eve Hill • Boulevard
$ 1,200,000
Est. payment /mo
Active
879 Parsons ST SW Atlanta, GA 30314
4,356 Sqft Lot
UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Subdivision Steuerwald
MLS Listing ID 10404726
Construction Status Resale
HOA Y/N No
Year Built 2010
Annual Tax Amount $10,600
Tax Year 2023
Lot Size 4,356 Sqft
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
Exterior
Garage Off Street, Parking Pad
Garage Spaces 6.0
Community Features Sidewalks
Utilities Available Underground Utilities
Building
Story Three Or More
Foundation Slab
Sewer Public Sewer
Level or Stories Three Or More
Construction Status Resale
Schools
Elementary Schools Jones
Middle Schools Brown
High Schools Washington
Others
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
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