For an investor who wants a tenant in place until March 2025 paying $1950/month. This condo is a prime choice for investors, boasting uninterrupted rental income from 2007 to December 31, 2023, achieving an impressive zero days of vacancy over 14 years. Documentation is available upon request. With a high capitalization rate and the presence of quality tenants, this property stands out as a dependable and profitable investment opportunity for those looking to secure a valuable addition to their portfolio. This condo not only offers the charm of historic architecture but also the efficiencies of modern living in the dynamic Midtown area. This 825 square foot home features two generously sized bedrooms and a full bathroom, all bathed in natural light and complemented by elegant hardwood floors. The unit's historic character is preserved in its 1924 construction, and modern amenities such as a dishwasher, range, refrigerator, and washer/dryer combo are included for your convenience.
A standout feature of this property is the significant cost savings afforded by the Homeowners' Association (HOA). The HOA provides hot water to all units, eliminating the need for an individual water heater in this condo. This unique benefit not only saves valuable space within your home but also reduces your monthly utility bills by approximately $40. Furthermore, the HOA covers essential services like gas, water, sewer, trash, internet, and cable, translating into an impressive $250 monthly value.
Adding to the appeal, the HVAC system in the unit is only 3 years old, ensuring efficient and reliable climate control for your comfort. The Massellton building, a historic landmark, features a gated courtyard that offers a serene escape from the city's energy. The condo also includes a covered porch with views of the courtyard, a gated parking space, and a large storage unit for added convenience. That parking space and storage unit was purchased by the owner in 2008 for over $13,000 and is included in the sale. Today that parking spot and storage unit is probably worth over $30,000. Owner has turned down offers to buy his storage unit separately which indicates there is a demand for such amenities.
Located in a prime area with unbeatable walkability, the condo is just a short distance from Ponce City Market, Piedmont Park, the Fox Theater, and the Beltline. Dining options abound, including the iconic Mary Mac's, only a block away. This listing is perfect for those who appreciate the blend of historical allure and modern functionality, right in the heart of Atlanta.
Key Facts
Style:
Year Built: 1924
Status: Active
Schools
Elementary School: Virginia-Highland
Middle School: David T Howard
High School: Midtown
Bedrooms
Beds Total: 2
Bathrooms
Baths Full: 1
Baths Half: 0
Main Full Baths: 1
Master Bath Features: Tub/Shower Combo
Kitchen & Dinning
Dining Room Desc:
Kitchen Features: Breakfast Room, Cabinets White, Stone Counters
Exterior & Lot Features
Courtyard
Complex/Building Access:
Other Rooms
Basement: None
Other
Interior Features
Crown Molding
Building & Construction
Style: , Traditional
Energy Features: None
Roof: Composition
Construction Desc: Brick 4 Sides
Accessibility Features
None
Garage & Parking
Deeded
Parking Lot
Heating & Cooling
Cooling Desc: Ceiling Fan(s), Central Air
Fireplaces: #0
Heat Type: Forced Air, Natural Gas
Fireplace Features:
Appliances
Dishwasher
Electric Oven
Electric Range
Refrigerator
Washer
Amenities & Community Features
Gated
Homeowners Assoc
Near Public Transport
Near Shopping
Near Trails/Greenway
Sidewalks
Laundry Features/Location: Laundry Closet
School Information
Elementary School: Virginia-Highland
Middle School: David T Howard
High School: Midtown
Homeowners Association
Assoc Fee Desc: Monthly
Fee Includes: Cable TV, Gas, Maintenance Structure, Maintenance Grounds, Pest Control, Reserve Fund, Sewer, Trash, Water
Other Property Info
City: Atlanta
Subdivision: Massellton
State: GA
Directions: Ponce de Leon between Piedmont and Myrtle. Best to try to park in front of the building on Ponce. If nothing is available it's best to try Myrtle Street. Then walk to the courtyard gate on Ponce.
