HISTORIC ATLANTA VALUE-ADD OPPORTUNITY ALL CASH OR take advantage of 2.99% FIXED OWNER FINANCING!** Own a piece of Atlanta history with this circa-1890 home located along Sunset Avenue in historic Vine City, near the King Family Home and Martin Luther King Jr. National Historical Park. This 2-bedroom, 1-bath, approximately 1,582-SF two-story property offers existing rental income, renovation potential and a rare opportunity for an investor or preservation-minded buyer to reposition a historic Atlanta property. Existing tenants currently generate approximately $1,100/month combined. The property is being sold AS-IS and offers significant value-add potential through renovation, restoration and possible reconfiguration or expansion, subject to zoning, historic-preservation requirements and governmental approvals. Known major-system information includes roof replacement in approximately 2014, HVAC dating to approximately 2005 and water heater dating to approximately 2002. Because of the property's age, location and current income-producing use, buyers may wish to investigate potential historic rehabilitation incentives, including applicable Georgia historic rehabilitation income-tax credits, federal historic rehabilitation tax credits for qualifying income-producing historic properties and Georgia preferential property-tax assessment programs. There is also a grant for owner-occupants (buyers) that pays $60,000 for renovations of this home. Historic designation and program eligibility are being verified. No grant, tax credit, reimbursement or other incentive is represented or guaranteed; buyers should independently verify eligibility and program requirements before beginning rehabilitation. **TWO WAYS TO BUY:** Seller will consider **$185,000 CASH *, proof of funds required, OR **$185,000 with OWNER FINANCING at 2.99% FIXED INTEREST and a 7-YEAR BALLOON**, with down payment and final financing structure negotiable. Owner financing may allow a qualified investor or buyer to preserve more capital for renovation and repositioning rather than committing additional cash to acquisition while potentially leveraging grant programs. Acquire the property, preserve its historic character, evaluate available rehabilitation incentives, renovate and reposition for your investment strategy. Serious buyers and investors are encouraged to request additional property information and showing instructions.
Property Details
- Interior
- Other
- Fireplaces
- 1
- Cooling
- Central Air
- Heating
- Forced Air
- Cooling Features
- Central Air
- Bedrooms
- 2
- Bathrooms
- 1.0
- Full Baths
- 1
- Bedrooms on Main Level
- 2
- Lot Features
- Other
- Stories
- 2
- Lot Description
- Other
- Acres
- 0.139
- Square Feet
- 2307
- Parking Features
- Off Street
- Parking
- Off Street
- Parking Spaces
- 4
- Property Type
- Purchase
- Style
- Colonial
- Basement
- 1
- Basement Description
- Crawl Space
- Year Built
- 1890
- Foundation
- Slab
- Roof
- Composition
- Sewer Information
- Public Sewer
- Utility Source
- Public
- Utility Features
- Cable Available,Electricity Available,Water Available
- Appliances
- Refrigerator
- Elementary School
- Hollis Innovation Academy
- Middle School
- M R Hollis
- High School
- Banneker
- County
- Fulton
- Region
- Atlanta
- Original List Price
- $185,000
- Taxes Annual
- $1,235
Location
Legal
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Provided By
Listed by Sy Wigginton (#WIGGINTONSY)
Listing Office: Keller Williams Rlty Atl. Part (#KWWA01)
