198 Ponce De Leon Avenue NE Unit 4C Atlanta GA 30308 MLS #7322159

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.
Listing Provided Courtesy of Atlanta Communities

Property Details

Price:
$299,900
MLS #:
7322159
Status:
Active
Beds:
2
Baths:
1
Address:
198 Ponce De Leon Avenue NE Unit 4C
Type:
Condo
Subtype:
Condominium
Subdivision:
Massellton
City:
Atlanta
Listed Date:
Jan 9, 2024
State:
GA
Finished Sq Ft:
825
ZIP:
30308
Year Built:
1924

Schools

Elementary School:
Virginia-Highland
Middle School:
David T Howard
High School:
Midtown

Interior

Appliances
Dishwasher, Electric Oven, Electric Range, Refrigerator, Washer
Bathrooms
1 Full Bathroom
Cooling
Ceiling Fan(s), Central Air
Flooring
Hardwood
Heating
Forced Air, Natural Gas
Laundry Features
Laundry Closet

Exterior

Architectural Style
Traditional
Community Features
Gated, Homeowners Assoc, Near Shopping, Near Trails/ Greenway, Sidewalks
Construction Materials
Brick 4 Sides
Exterior Features
Courtyard
Other Structures
None
Parking Features
Deeded, Parking Lot
Parking Spots
1
Roof Type
Composition

Financial

HOA Fee
$515
HOA Frequency
Monthly
HOA Includes
Cable TV, Gas, Maintenance Grounds, Pest Control, Reserve Fund, Sewer, Trash, Water
Tax Year
2023
Taxes
$3,235

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