1860 S Columbia Place
Property Description
21 working-class rental units on 19 parcels, conveniently located in close proximity to each other within the booming 30032 zip code. 100% Occupancy. Current rents average $1,216/month - $25,550/month gross - against a market rate average of $1,582. That gap is intentional. There are many long term tenants and every unit that turns has potential to be a profitable flip, cosmetic renovation and rent bump or just re-lease at the same price. The 30032 zip code sits on I-20 and near I285 with direct access to Downtown Atlanta, East Atlanta Village, and Hartsfield-Jackson. The Avondale MARTA station is nearby. These are practical amenities that keep working-class renters in place. The corridor is moving. Belvedere Plaza at Memorial Drive and Columbia Drive just landed a $24.3 million redevelopment backed by a $3 million Decide DeKalb grant - four national retailers and a full-service grocery anchor coming in 2027. DeKalb County's long-range plan calls for mixed-use and multifamily density along Memorial Drive. That's not speculation. That's a unanimous board vote and a developer writing a real check. Publix is opening a second store on Glenwood close to these properties. The play is straightforward. Collect $25,550/month while you hold. Renovate as units turn. Re-lease at market rate. A fully repositioned portfolio at $1,582/month gross clears over $33,200/month. Or flip individual renovated units as retail sales. Working-class housing. Below-market rents. I-20 access. A corridor with institutional money coming in behind it.
Broker Details
Keller Williams Realty Intown (404) 564-5560
MLS ID: PEYERPATRICK
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $3,950,000 |
| No. of Units: | 21 |
| Year Built: | 1950 |
| Opportunity Zone: | No |
| Price per unit: | $188,095 |
| Property Website | Click Here |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-GAMLS-10845636
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