REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Fri

Nov

Sat

Nov

Sun

Nov

Tonya Gibbons

tonyagibbons@randomlyatl.com +1(470) 376-0548

$ 1,990,000

Est. payment -/mo

Save

New

138 Lamar AVE NW Atlanta, GA 30314

0.7 Acres Lot

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status New

Purchase Type For Sale

Subdivision Dixie Hills

MLS Listing ID 10647338

HOA Y/N No

Year Built 1956

Annual Tax Amount $7,426

Tax Year 2025

Lot Size 0.703 Acres

Acres 0.703

Lot Dimensions 30622.68

Property Sub-Type Multi Family

Source Georgia MLS 2

Property Description

True Value-Add Opportunity in Atlanta's West End Area Exceptional investment potential in the Dixie Hills neighborhood, offering convenient access to nearby parks, I-20, and Downtown Atlanta. The current owner has made no efforts to increase rents or lease remaining vacancies in anticipation of a sale, leaving substantial upside on the table. Average in-place rents are only $800 per unit, well below market. This is not a cap-rate sale - the property is approximately 90% occupied and being sold strictly as-is, representing a true value-add opportunity based on future performance rather than current income. 20 units feature 2-bed/1-bath floor plans in classic condition. An existing studio room with a full bathroom (currently used by maintenance) brings the total to 21 units. Each unit includes central HVAC, in-unit laundry connections, and separately metered electric and gas; water is master-metered. The property enjoys easy access to I-20, Downtown Atlanta, and the West End. Notably, a $75.5 million bond was issued last year for the redevelopment project directly across the street - a strong signal of area revitalization and investor confidence. Comparable renovated units across the street rent for around $1,600 ($1500 if subsidized) per month, underscoring the significant rent growth potential. This is your chance to acquire a proven cash-flow opportunity in one of Atlanta's fastest-growing submarkets. Attractive financing is available.

Location

State GA

County Fulton

Rooms

Basement Bath Finished

Interior

Heating Central

Cooling Central Air

Fireplace No

Exterior

Parking Features Detached

Community Features Park, Near Public Transport

Utilities Available Underground Utilities

View Y/N No

Garage Yes

Private Pool No

Building

Faces GPS use 138 Lamar Ave Nw

Sewer Public Sewer

Water Public

Structure Type Brick

New Construction No

Schools

Elementary Schools Usher

Middle Schools J. L. Invictus Academy

High Schools Douglass

Others

HOA Fee Include None

Tax ID 14018000030620

Special Listing Condition Resale

GET MORE INFORMATION

Tonya Gibbons

Real Estate Advisor | License ID: 418994

+1(470) 376-0548

QUICK SEARCH

Homes For Sale in Atlanta, GA