Homes for sale - 138 Lamar AVE NW, Atlanta, GA 30314

Key Details

Property Type Multi-Family

Sub Type Other

Listing Status Active

Purchase Type For Sale

Subdivision Dixie Hills

MLS Listing ID 7683935

Construction Status Resale

HOA Y/N No

Year Built 1956

Annual Tax Amount $7,426

Tax Year 2025

Lot Size 0.702 Acres

Acres 0.7025

Property Sub-Type Other

Source First Multiple Listing Service

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

Area Dixie Hills

Lake Name None

Interior

Heating Central

Cooling Central Air

Flooring Laminate

Window Features None

Exterior

Parking Features Detached

Fence Chain Link

Community Features Near Beltline,Near Public Transport,Near Trails/Greenway,Park

Utilities Available Electricity Available,Sewer Available,Underground Utilities,Water Available

Waterfront Description None

View Y/N Yes

View City,Other

Roof Type Composition

Accessibility None

Handicap Access None

Private Pool false

Building

Lot Description Level

Story Three Or More

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Structure Type Brick

Construction Status Resale

Schools

Elementary Schools Bazoline E. Usher/Collier Heights

Middle Schools John Lewis Invictus Academy/Harper-Archer

High Schools Frederick Douglass

Others

Senior Community no