720 Formwalt St, Atlanta, Georgia 30315

$850,000
List Price
$850,000
MLS#
8507939
Status
New
Type
Multifamily
City
Atlanta
County
Fulton
Subdivision
Mechanics
Year Built
1960
Subdivision
Mechanics

Property Description

AWESOME investment opportunity! Both 720 and 728 Formwalt are being sold together. These are 1950's brick buildings needing full renovation. Opportunity to earn $1300 - $1400 monthly/unit in rents! There are a total of 16 units with both buildings just waiting on the savvy investor to snag them up. Both communities are on a little over half an acre. Renovate and collect rent for years to come or assemble the lots for a larger project. Zoning is SPI-18 SA4 and other apartment buildings in the area are listed around $120k/unit. Close to GA State and a resurgent downtown.

Additional Information

Elementary School
Other
Middle School
Other
High School
Other
Amenities
None
Lot Dimensions
.33
Land Lot
75
Laundry
Other (See Remarks)
Parking
Parking Pad
Water Sewer
Public Water, Sewer Connected
Heating Type
Other (See Remarks)
Basement Type
Slab/None
Cooling Type
Other (See Remarks)
Cooling Source
Other (See Remarks)
Energy Related
None
Stories
2 Stories
Fees Include
None
Tax Year
2007
Tax Id
14 007500050287
Taxes
$6,187
Construction
Brick 4 Sided
Heating Source
Other (See Remarks)
Special Conditions
Fixer Upper, Investor Owned
Foreclosure
Yes

Listing courtesy of Keller Williams Atl. Midtown.

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Calculator source: Real Geeks