585 Warwick ST SE Atlanta, GA 30316
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Other
Listing Status Active
Purchase Type For Sale
Subdivision Ormewood Park
MLS Listing ID 7816242
Construction Status Resale
HOA Y/N No
Year Built 1940
Annual Tax Amount $6,600
Tax Year 2025
Lot Size 6,098 Sqft
Acres 0.14
Property Sub-Type Other
Source First Multiple Listing Service
Property Description
Offered at $815,000, the property presents a rare opportunity to acquire a stabilized, cash-flowing asset in one of Atlanta's most supply-constrained and rapidly appreciating BeltLine neighborhoods.
Fully leased with immediate cash flow, this turnkey investment opportunity in Ormewood Park offers stable in-place income in one of Atlanta's strongest long-term growth corridors. Located just 0.4 miles from the newly paved Atlanta BeltLine Southside Trail and within 0.5 miles of Glenwood Park's restaurants, coffee shops, breweries, fitness studios, and neighborhood retail, the property combines dependable current returns with exceptional long-term upside.
A corporate-backed tenant has occupied the property continuously for the past three years and has historically renewed each term. Their continued interest in the home offers the next owner the potential for immediate, reliable income with limited vacancy exposure.
Ormewood Park has consistently ranked among Atlanta's strongest appreciating intown neighborhoods, fueled by BeltLine expansion, continued redevelopment, and increasing demand from both homeowners and renters seeking walkable, amenity-rich communities. With the BeltLine now paved and easily accessible just minutes away, the property's location is well positioned to continue benefiting from one of Atlanta's most significant infrastructure investments.
Current Lease Highlights
Current Rent: $4,575/month ($54,900 annual gross rent)
Lease Term: July 14, 2026 – July 13, 2027
Occupancy: Fully leased to four tenants under a single lease with joint and several liability.
Tenant Responsibilities: Tenants pay all utilities and are responsible for routine interior upkeep and damages beyond normal wear and tear.
Landlord Responsibilities: Professional landscaping, routine pest control, and major property maintenance.
Financials are underwritten with actual property taxes, estimated insurance, landscaping, and pest control, along with conservative replacement reserves and maintenance allowances. The property is currently self-managed, resulting in a projected 5.04% cap rate at the asking price.
Whether you're completing a 1031 exchange, expanding an Atlanta rental portfolio, or acquiring a low-maintenance investment with proven tenant demand, 585 Warwick offers an increasingly rare combination of stable in-place income, a proven leasing history, and a premier intown location. While the property provides immediate cash flow today, its proximity to the Atlanta BeltLine and Glenwood Park positions investors to benefit from continued rent growth, long-term appreciation, and sustained tenant demand for years to come.
Location
State GA
County Fulton
Area Ormewood Park
Lake Name None
Interior
Heating Central
Cooling Central Air
Flooring Hardwood
Window Features Double Pane Windows
Exterior
Parking Features Driveway
Fence Back Yard
Community Features None
Utilities Available Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Water Available
Waterfront Description None
View Y/N Yes
View City
Roof Type Shingle
Accessibility None
Handicap Access None
Total Parking Spaces 3
Private Pool false
Building
Lot Description Private
Story Two
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type HardiPlank Type
Construction Status Resale
Schools
Elementary Schools Parkside
Middle Schools Martin L. King Jr.
High Schools Maynard Jackson
Others
Senior Community no
Tax ID 14 001200100195
Special Circumstances Investor Owned
NEARBY SCHOOL & BUSINESS
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