Quadraplex in Historic Midtown | Step From Piedmont Park and BeltLine

Description

Discover the charm of historic Atlanta with this beautifully restored 4- unit 1920 Southern brick bungalow nestled in an enclave of single family homes. Located at 396 8th Street NE, merely a block away from Piedmont Park, this corner property, was transformed into a permitted quadraplex that perfectly marries the allure of the past with the conveniences of modern living.

Award-Winning Restoration: The owner’s collaboration with the City of Atlanta and the Atlanta Urban Design Commission from 1986 to 1987 resulted in a stunning renovation that stripped the property to its studs and re-imagined it with efficient floor plans. This meticulous restoration resulted not only into a low maintenance property but earned a nomination for the Mayor’s Award for Urban Design Excellence, recognizing the property’s contribution to the neighborhood’s architectural heritage.

Thoughtful Design & Features:
• Preserved Heritage: The bungalow’s original hardwood floors and iconic brick façade have been carefully maintained, preserving its timeless beauty.
• Modern Amenities: A comprehensive update of plumbing, electrical, gas, and mechanical systems, with individual metering and shut offs in each unit, including fiber internet and in-unit washer/dryers, ensuring comfort and independence.
• Energy Efficiency: Aluminum double-paned windows, superior insulation of roof with Icynene, exterior and party walls filled with fiber provide noise control, and energy savings, making for an ecofriendly living experience.
• Distinctive Residences: Each apartment, from the attic with vaulted ceilings to the main floor 9-foot-high ceilings and windows throughout provide ample natural light and a view of urban nature throughout each apartment.

Upgrades:
• Roof: 2020, complete with 10-year warranty.
• HVAC: 2012 –3 Apartments with heat pumps and a split system for the upper floor apartment.
• Acoustic Comfort: Attic apartment enhanced with sound proofed underlay.
• Efficient Water Heaters: GA Power-approved Rheem Marathon rust free hot water tanks.
• Kitchens and Bathrooms: Fresh Air vents, stainless steel equipment and Granite counter tops.
• Parking Lot: Extended to accommodate 10 Parking spaces (8 for Residents & 2 for Guests).

This property offers a rare opportunity for discerning investors providing tenants with a blend of vintage allure and modern amenities in a coveted location. With a low vacancy rate and an average tenancy of 2.5 years the property has proven to be an incredible investment for landlords. Alternatively, an excellent investment for a homeowner with flexibility to easily convert the property from a quadraplex to a triplex, a duplex or even a full-sized home with a separate nanny/parent suite, leaving the ability to extend the property in the rear to accommodate an extension of the home with an enlarged master suite and a potential additional accessory dwelling unit with garage leaving enough room for urban landscape and additional parking. The surrounding community features a quiet and safe environment, filled with beautiful single-family homes in close proximity to top-rated schools, outdoor amenities and nearby retail. All units are spacious 1 bedroom/ 1 bath units. Unit A (the largest unit) can easily be converted into a 2 bedroom/ 1.5 bath unit if desired by simply adding a few walls (plumbing already in place).

Gross Annual Rents (Yr 2024/2025): $87,840

• Apt A: Year 1 - ending May 31, 2025
• Apt B: Year 3 - ending June 30, 2025
• Apt C: Year 2 - ending May 31, 2025
• Apt D: Year 4 - ending May 31, 2025

This property is located in Atlanta, GA.

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