8,903 Sqft Lot
8,903 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Subdivision Slaton Marnor Condo
MLS Listing ID 7514217
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1932
Annual Tax Amount $2,938
Tax Year 2024
Lot Size 8,903 Sqft
Acres 0.2044
Property Sub-Type Duplex
Property Description
Appraised at $350,000, this home boasts $40,000 in built-in equity, making it an exceptional find. Currently, the property features a 2 bed / 1 bath unit estimated to rent for $1,500 per month and a 1 bed / 1 bath unit estimated to rent for $1,350 per month. The real magic lies in the unfinished basement, which can be converted into a 2 bed / 1 bath apartment, potentially adding another $1,500 per month in rental income. With the conversion, this property could generate a total of $4,350 per month in gross rental income.
The seller, a licensed general contractor, has provided a $35,000 bid to complete the basement conversion, turning this vision into a reality. To further sweeten the deal, two brand-new HVAC systems are currently being installed for the existing units, ensuring tenant comfort. With two separate gas meters, tenants pay their own gas bills, simplifying property management for you.
The seller, a trusted Atlanta Housing Authority landlord, is even willing to place Section 8 tenants after closing, guaranteeing reliable rental income. To give you added peace of mind, $10,000 will be held in escrow until the Section 8 tenants are secured.
This property is more than just an investment – it's a golden opportunity to secure your financial future, generate significant monthly income, and build lasting wealth. Don't let this chance slip away – take the first step toward owning this incredible property today.
Location
State GA
County Fulton
Lake Name None
Interior
Heating Central
Cooling Ceiling Fan(s), Central Air
Flooring Tile, Vinyl, Wood
Window Features Double Pane Windows
Exterior
Parking Features None
Fence Back Yard
Community Features None
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Water Available
Waterfront Description None
View Other
Roof Type Asbestos Shingle,Tar/Gravel
Accessibility None
Handicap Access None
Private Pool false
Building
Lot Description Other
Story One
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type HardiPlank Type,Wood Siding
New Construction No
Construction Status Resale
Schools
Elementary Schools Emma Hutchinson
Middle Schools Crawford Long
High Schools South Atlanta
Others
Senior Community no
Tax ID 14 009300020270
Special Listing Condition None
Virtual Tour https://idx.paradym.com/idx/2794-7th-Street-SW-Atlanta-GA-30315/4904599/prt/37
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