585 Warwick Street Se, Atlanta, GA 30316
Local realty services provided by:ERA Sunrise Realty
585 Warwick Street Se,Atlanta, GA 30316
$815,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: david holcombe
Office: keller knapp
MLS#:7816242
Source:FIRSTMLS
Price summary
- Price:$815,000
About this home
Fully Leased, Cash-Flowing Investment in One of Atlanta's Most Desirable Intown Neighborhoods
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....
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Home facts
- Year built:1940
- Subdivision & Development:Ormewood Park
- Listing ID #:7816242
- Updated:August 13, 2026 at 04:06 PM
Rooms and interior
- Flooring:Hardwood
Heating and cooling
- Cooling:Central Air
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Shingle
- Year built:1940
- Lot area:0.14 Acres
- Lot Features:Private
- Construction Materials:HardiPlank Type
- Levels:2 Story
Schools
- High school:Maynard Jackson
- Middle school:Martin L. King Jr.
- Elementary school:Parkside
Utilities
- Water:Public, Water Available
- Sewer:Public Sewer, Sewer Available
Finances and disclosures
- Price:$815,000
- Tax amount:$6,600 (2025)
Parking
- Total parking spaces:3
- Parking description:Driveway
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