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University Center Multifamily Home for Sale

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    $1,200,000

    879 Parsons St SW, Atlanta, GA 30314

    Offered at $1,200,000 with a CAP rate just under 8%, this 14-unit property at 879 Parsons St SW boasts a potential annual gross income of $137,100. Currently over 70% occupied with many tenants currently applying, it’s a perfect 1031 exchange candidate or even for a first time investment. Built in 2010 for student housing, it includes Side A and Side B, each with 7 rooms, 6 bathrooms, and full

    Susan Brown Boulevard Homes, LLC

    879 Parsons St SW, Atlanta, GA 30314

Why Live in University Center

From Civil Rights leader Martin Luther King Jr. to filmmaker Spike Lee, the Atlanta University Center neighborhood has been the domain of multiple American icons. They were all drawn to the area because it hosts some of the oldest and most prestigious historically Black colleges and universities in the country. Clark Atlanta University, Spelman College, Morehouse College and the Morehouse School of Medicine are all located here. “There’s a lot of history. A lot of men who would go on to become Civil Rights leaders went to school there. Martin Luther King Jr. went to Morehouse and his wife went to Spelman. You feel that energy when you are there,” says Brittany Leaphart, a Realtor with Keller Williams Realty, First Atlanta, who’s been selling homes in the area for five years. “Today’s leaders were educated there as well. Spike Lee and Samuel Jackson both went to Morehouse.” Located just 2 miles from downtown and right next door to the Atlanta Falcon’s Mercedes-Benz Stadium, this academic enclave touts a prime location. And because nearly 70 percent of residents are renters, the area presents an investment opportunity for those looking to buy and rent their home out to students.

Home Trends in University Center, GA

Housing Trends

Median Sale Price
$295,000
Median Single Family Sale Price
$295,000
Average Price Per Sq Ft
$188
Number of Homes for Sale
0
Last 12 months Home Sales
3
Months of Supply
0.00
Median List Price
$309,500
Median Change From 1st List Price
5%
Median Home Sale Price YoY Change
-76%
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