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585 Warwick Street

Atlanta, GA 30316
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Bed --

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Bath 0

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Acres0.14

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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 occupie d 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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Detail Ic Property Details

Property Type : Residential Income

Price : $815,000

AD Id : 89140831

MLS Id : 7816242

Lot Size : 0.14 Acre

Year Built : 1940

County : Fulton

Subdivision: Ormewood Park

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Feature Features

  • Flooring Information

    Hardwood
  • Roofing Information

    Shingle
  • Interior Features

    Roof: Shingle Window Features: Double Pane Windows
  • Heating & Cooling

    Has Heating: Yes Heating: Central Has Cooling: Yes Cooling: Central Air

  • Building Information

    Year Built: 1940 Construction Materials: HardiPlank Type Private Pool: No View: City

  • Lot Information

    Lot Dimensions: x Lot Size Acres: 0.14 Lot Size Source: Public Records Lot Description: Private

    Property Information

    Subdivision: Ormewood Park Source Property Type: Residential Income Postal Code Plus 4: 1827 Levels: Two Property Age: 86

  • Listing Price Information

    Listing Price: $815000

  • Tax Information

    Tax Year: 2025 Annual Tax: $6600 Tax Legal Desc: x

  • Parking Information

    Parking Total: 3 Driveway

  • School Information

    Elementary School: Parkside
    Junior High School: Martin L. King Jr.
    Senior High School: Maynard Jackson
  • Utility Information

    Cable Available, Electricity Available, Natural Gas Available, Sewer Available, Water Available
  • Location Information

    Direction: GPS WaterSource: Public Security Features: Carbon Monoxide Detector(s)
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ByOwner last updated this listing 08/06/2026 @ 18:33

MLS: 7816242 LISTED BY: David Holcombe, Keller Knapp 404-370-0092 SOURCE: First Multiple Listing Service (FMLS)

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