$325,000
Grandfathered duplex-style property offering exceptional income-producing potential in a prime Atlanta location, ideal for both investors and owner-occupants seeking immediate cash flow with future upside. This fully renovated asset is currently generating $3,200 per month, with Unit A configured as a 2-bedroom, 1-bath residence leased at $1,850 per month to a qualified long-term tenant with a strong payment history, and Unit B with a new qualified tenant which moved in on April 1at a rate of $1,350 per month. The property is equipped with two separate gas meters and offers significant value-add opportunity through the unfinished basement, which is well-suited for conversion into a third unit, potentially a studio or 2-bedroom, 1-bath apartment, with an estimated renovation cost of approximately $35,000 per the seller's contractor bid. Upon completion, projected gross rental income could reach approximately $5,150 per month across three units. Additional features include ample storage space and a versatile basement area ideal for a home gym, workshop, or expanded living space. With a certified appraised value of $325,000, this property presents a compelling opportunity for house hacking, including FHA or FHA 203(k) financing, allowing an owner-occupant to live in one unit while leveraging rental income from the others to offset mortgage expenses, all within close proximity to Atlanta's key amenities, employment hubs, and growth corridors.
10742219
MLS
2794 7th Street SW, Atlanta
Listing courtesy of Coldwell Banker Realty.
