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$299,000

Est. payment - /mo

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8,886 Sqft Lot

Pending

2794 7th ST SW Atlanta, GA 30315

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Sarah Coleman

sarah@colemansoldit.com +1(770) 876-5578

UPDATED:

02/15/2025 02:24 AM

Key Details

Property Type Multi-Family

Sub Type Multi Family,Duplex

Listing Status Pending

Purchase Type For Sale

Subdivision Slaton Manor Condo

MLS Listing ID 10446535

HOA Y/N Yes

Originating Board Georgia MLS 2

Year Built 1932

Annual Tax Amount $1,142

Tax Year 22

Lot Size 8,886 Sqft

Acres 0.204

Lot Dimensions 8886.24

Property Sub-Type Multi Family,Duplex

Property Description

Step into an extraordinary opportunity with this versatile gem on 2794 7th Street, Atlanta - a single-family home already set up like a duplex and brimming with the potential to become a triplex. Whether you're a first-time homebuyer or a seasoned investor, this property offers the perfect combination of value, income potential, and long-term wealth-building opportunities. 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

Rooms

Basement Bath/Stubbed

Interior

Heating Central, Common, Electric, Natural Gas

Cooling Ceiling Fan(s), Central Air

Fireplace No

Laundry In Unit

Exterior

Parking Features Off Street

Community Features Near Public Transport, Near Shopping

Utilities Available Electricity Individual Meters, Gas Individual Meters

View Y/N No

Garage No

Private Pool No

Building

Faces GPS Friendly

Foundation Block, Pillar/Post/Pier

Sewer Public Sewer

Water Public

Structure Type Brick,Log,Vinyl Siding,Wood Siding

New Construction No

Schools

Elementary Schools E C West

Middle Schools Crabapple

High Schools South Atlanta

Others

HOA Fee Include Trash

Tax ID 14 009300020270

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition Resale

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Sarah Coleman

Agent | License ID: 371407

+1(770) 876-5578

2794 7th ST SW Atlanta, GA 30315

Sarah Coleman

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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