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Naveen Sharma

naveen@fourpointrealty.com +1(732) 429-0939

$3,950,000

Est. payment - /mo

6,534 Sqft Lot

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Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Belvedere

MLS Listing ID 10845636

HOA Y/N No

Year Built 1950

Annual Tax Amount $3,635

Tax Year 2026

Lot Size 6,534 Sqft

Acres 0.15

Lot Dimensions 6534

Property Sub-Type Multi Family

Source Georgia MLS 2

Property Description

21 working-class rental units on 19 parcels, conveniently located in close proximity to each other within the booming 30032 zip code. 100% Occupancy. Current rents average $1,216/month - $25,550/month gross - against a market rate average of $1,582. That gap is intentional. There are many long term tenants and every unit that turns has potential to be a profitable flip, cosmetic renovation and rent bump or just re-lease at the same price. The 30032 zip code sits on I-20 and near I285 with direct access to Downtown Atlanta, East Atlanta Village, and Hartsfield-Jackson. The Avondale MARTA station is nearby. These are practical amenities that keep working-class renters in place. The corridor is moving. Belvedere Plaza at Memorial Drive and Columbia Drive just landed a $24.3 million redevelopment backed by a $3 million Decide DeKalb grant - four national retailers and a full-service grocery anchor coming in 2027. DeKalb County's long-range plan calls for mixed-use and multifamily density along Memorial Drive. That's not speculation. That's a unanimous board vote and a developer writing a real check. Publix is opening a second store on Glenwood close to these properties. The play is straightforward. Collect $25,550/month while you hold. Renovate as units turn. Re-lease at market rate. A fully repositioned portfolio at $1,582/month gross clears over $33,200/month. Or flip individual renovated units as retail sales. Working-class housing. Below-market rents. I-20 access. A corridor with institutional money coming in behind it.

Location

State GA

County Dekalb

Rooms

Bedroom Description No

Basement None

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Carport

Community Features None

Utilities Available Other

View Y/N No

Garage No

Private Pool No

Building

Faces GPS Friendly

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Other

New Construction No

Schools

Elementary Schools Other

Middle Schools Other

High Schools Other

Others

HOA Fee Include None

Tax ID 15 167 04 021

Acceptable Financing 1031 Exchange, Cash

Listing Terms 1031 Exchange, Cash

Special Listing Condition Resale

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Naveen Sharma

+1(732) 429-0939

naveen@fourpointrealty.com

1860 S Columbia PL Decatur, GA 30032

Naveen Sharma

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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1860 S Columbia PL