208 Doane St new Save Request In-Person Tour Request Virtual Tour
Atlanta,GA 30315
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 7,840 sqft
Price per Sqft $177
MLS Listing ID 7544001
Style Other
Bedrooms 10
Full Baths 2
Year Built 1955
Annual Tax Amount $13,839
Tax Year 2024
Lot Size 9,539 Sqft
Property Sub-Type Single Family Residence
Property Description
Atlanta Leasing & Investment is proud to present an outstanding opportunity to acquire a 10-unit property located just 5 minutes from Georgia State University and steps from the vibrant Summerhill neighborhood. This prime asset offers quick access to I-85, ensuring seamless connectivity to Downtown Atlanta.
This property generates strong immediate cash flow, with recent rent increases by the current owner. Market rents in the area range from $1,400 to $1,800 per month, providing a solid income stream. Additionally, the property presents a value-add opportunity — strategic unit updates upon turnover could further maximize rental income. The property underwent interior renovations estimated at $200K–$300K and exterior renovations estimated at $100K between 2017 and 2018.
Currently operating at approximately a 7% cap rate, the property has the potential to reach 8% at market rents, making it an attractive and dependable investment with strong potential for appreciation and increased tenant demand. This is a rare chance to secure a high-performing asset in a rapidly growing market with excellent upside potential.
Location
State GA
County Fulton
Rooms
Other Rooms None
Dining Room Other
Interior
Heating Central
Cooling Central Air
Flooring Other
Fireplaces Type None
Laundry Other
Exterior
Exterior Feature Other
Parking Features Attached
Fence None
Pool None
Community Features None
Utilities Available Other
Waterfront Description None
View Other
Roof Type Asbestos Shingle
Building
Lot Description Other
Story One
Foundation Slab
Sewer Public Sewer
Water Public
Structure Type Brick
New Construction No
Schools
Elementary Schools Fulton - Other
Middle Schools Sylvan Hills
High Schools Maynard Jackson
Others
Special Listing Condition None