$350,000
$379,000
7.7%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
2 Baths
826 SqFt
SOLD DATE : 07/24/2024
Key Details
Sold Price $350,000
Property Type Condo
Sub Type Condominium
Listing Status Sold
Purchase Type For Sale
Square Footage 826 sqft
Price per Sqft $423
Subdivision Peachtree Towers
MLS Listing ID 7331172
Sold Date 07/24/24
Style High Rise (6 or more stories)
Bedrooms 2
Full Baths 2
Construction Status Updated/Remodeled
HOA Fees $679
HOA Y/N Yes
Originating Board First Multiple Listing Service
Year Built 1962
Annual Tax Amount $3,669
Tax Year 2023
Lot Size 827 Sqft
Acres 0.019
Property Description
RARE FIND! NO HOA RENTAL RESTRICTIONS! 2 bedroom AND 2 bath fully renovated fully furnished condominium in the iconic and historic downtown Peachtree Towers Condominiums. This unit is currently being used for short-term rental on Airbnb, but it could also be used for a primary residence, corporate rental, or college housing for someone attending one of the many downtown college/university campuses. The two-bedroom units do not become available very often. Maybe that's because they can routinely generate over $50,000 in gross annual revenue as a short-term rental on Airbnb, making them a CASH COW, and this unit is no exception. Last year, it generated over $53,000. This unit is situated in a premium spot of the building, allowing for what locals call the “Sunset View” from the screened-in balcony with views of Georgia Aquarium and Centennial Park. This unit is also unique even for this building because it has its very own washer and dryer. The CAP RATE for this property can be over 9% if the owner chooses to self-manage as a short-term rental.
Peachtree Towers Condominiums was built in 1962 by the C.D. Spangler Construction Company. At the time, the 23-story building was considered a skyscraper, reaching a height of 240 feet, and was the tallest residential building in Atlanta. It was the first residential building in the city's center and now consists of 330 residential condominiums, including studios and one- and two-bedroom units. The condominium homes provide move-in ready living. Although you are in the city, you can feel secure with strict access control and 24-hour concierge service.
HOA Dues include all utilities, including water, sewer, electric, and basic cable TV (currently through Comcast Xfinity). The hallways and common areas have all been renovated and upgraded to modern standards. All units have also been made more energy efficient by installing double-pane windows. One of the benefits of the original construction was the quality of the soundproofing of the units. In 1962, the soundproofing in the building was hailed as the best, and it has stood the test of time.
Location
State GA
County Fulton
Lake Name None
Rooms
Bedroom Description None
Other Rooms None
Basement None
Main Level Bedrooms 2
Dining Room None
Interior
Interior Features Bookcases, Elevator
Heating Central, Forced Air
Cooling Central Air, Multi Units
Flooring Laminate
Fireplaces Type None
Window Features None
Appliance Dishwasher, Dryer, Electric Cooktop, Electric Oven, Electric Range, Refrigerator, Washer
Laundry Main Level
Exterior
Exterior Feature None
Parking Features None
Fence None
Pool None
Community Features Near Public Transport, Sidewalks, Street Lights
Utilities Available Cable Available, Electricity Available, Phone Available, Sewer Available, Water Available
Waterfront Description None
View City
Roof Type Other
Street Surface Asphalt
Accessibility Accessible Bedroom, Accessible Closets, Accessible Elevator Installed, Accessible Full Bath, Accessible Kitchen, Accessible Kitchen Appliances, Accessible Washer/Dryer
Handicap Access Accessible Bedroom, Accessible Closets, Accessible Elevator Installed, Accessible Full Bath, Accessible Kitchen, Accessible Kitchen Appliances, Accessible Washer/Dryer
Porch Covered, Enclosed, Screened
Private Pool false
Building
Lot Description Other
Story Three Or More
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Architectural Style High Rise (6 or more stories)
Level or Stories Three Or More
Structure Type Concrete
New Construction No
Construction Status Updated/Remodeled
Schools
Elementary Schools Centennial Place
Middle Schools Centennial Place
High Schools Midtown
Others
HOA Fee Include Cable TV,Door person,Electricity,Gas,Insurance,Maintenance Structure,Maintenance Grounds,Pest Control,Receptionist,Reserve Fund,Sewer,Termite,Trash,Water
Senior Community no
Restrictions false
Tax ID 14 007800141364
Ownership Condominium
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Financing no
Special Listing Condition None
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