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Atlanta 30308 Midtown
198 Ponce De Leon Avenue NE #4C
$299,900
↑ $30K (11.1%)
Condo - For Sale

198 Ponce De Leon Avenue NE #4C

Atlanta, GA 30308
bedrooms
2 Beds
bathrooms
1 Bath
square feet
825 Sqft
$2,258
Estimated Monthly
$515
HOA / Fees
9.66%
Cap Rate

About This Property

For an investor who wants a tenant in place until March 2025 paying $1950/month.  This condo is a prime choice for investors, boasting uninterrupted rental income from 2007 to December 31, 2023, achieving an impressive zero days of vacancy over 14 years. Documentation is available upon request. With a high capitalization rate and the presence of quality tenants, this property stands out as a dependable and profitable investment opportunity for those looking to secure a valuable addition to their portfolio. This condo not only offers the charm of historic architecture but also the efficiencies of modern living in the dynamic Midtown area. This 825 square foot home features two generously sized bedrooms and a full bathroom, all bathed in natural light and complemented by elegant hardwood floors. The unit's historic character is preserved in its 1924 construction, and modern amenities such as a dishwasher, range, refrigerator, and washer/dryer combo are included for your convenience.

A standout feature of this property is the significant cost savings afforded by the Homeowners' Association (HOA). The HOA provides hot water to all units, eliminating the need for an individual water heater in this condo. This unique benefit not only saves valuable space within your home but also reduces your monthly utility bills by approximately $40. Furthermore, the HOA covers essential services like gas, water, sewer, trash, internet, and cable, translating into an impressive $250 monthly value.

Adding to the appeal, the HVAC system in the unit is only 3 years old, ensuring efficient and reliable climate control for your comfort. The Massellton building, a historic landmark, features a gated courtyard that offers a serene escape from the city's energy. The condo also includes a covered porch with views of the courtyard, a gated parking space, and a large storage unit for added convenience.  That parking space and storage unit was purchased by the owner in 2008 for over $13,000 and is included in the sale. Today that parking spot and storage unit is probably worth over $30,000.  Owner has turned down offers to buy his storage unit separately which indicates there is a demand for such amenities.

Located in a prime area with unbeatable walkability, the condo is just a short distance from Ponce City Market, Piedmont Park, the Fox Theater, and the Beltline. Dining options abound, including the iconic Mary Mac's, only a block away. This listing is perfect for those who appreciate the blend of historical allure and modern functionality, right in the heart of Atlanta.

The manager has listed the unit size as 825 square feet.
Unit Size
825Ft²
Days on Market
110 days
Land Size
0.02 acres
Price per sqft
$364
Property Type
Condo
Property Taxes
$270
HOA Dues
$515
Year Built
1924
Listed By
TIM MAITSKI
ATLANTA COMMUNITIES
Last updated: 16 days ago (FMLSGA #7322159)

Price History

Date / Event Date Event Price
Apr 12, 2024 Price Increased $299,900
↑ $30K (11.1%)
Price Increased
Feb 21, 2024 Price Decreased $269,900
↓ $10K (3.6%)
Price Decreased
Feb 6, 2024 Price Decreased $280,000
↓ $10K (3.5%)
Price Decreased
Jan 9, 2024 Listed by Atlanta Communities Real Estate Brokerage $290,000
Listed by Atlanta Communities Real Estate Brokerage

Property Highlights

Fireplace
Air Conditioning
Interior Details

Fireplace Information

Fireplace

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes
Condo
2 Beds
1 Bath
920 ft²
$303/ft²
$279,000 Mar 28, 2024
-
$596/mo
Condo
1 Bed
1.5 Baths
984 ft²
$304/ft²
$299,000 Mar 29, 2024
-
$956/mo
Condo
1 Bed
1 Bath
814 ft²
$368/ft²
$299,900 Feb 20, 2024
-
$557/mo
Condo
1 Bed
1 Bath
821 ft²
$363/ft²
$298,000 Nov 20, 2023
-
$774/mo
Condo
1 Bed
1 Bath
775 ft²
$339/ft²
$262,500 Mar 7, 2024
-
$796/mo
Condo
1 Bed
1 Bath
852 ft²
$332/ft²
$282,500 Feb 12, 2024
-
$5,607/mo
Condo
1 Bed
1 Bath
852 ft²
$304/ft²
$259,000 Nov 16, 2023
-
$729/mo
Condo
1 Bed
1 Bath
874 ft²
$332/ft²
$289,999 Jan 16, 2024
-
$860/mo
Condo
1 Bed
1 Bath
775 ft²
$303/ft²
$235,000 Jan 25, 2024
-
$521/mo
Condo
1 Bed
1 Bath
834 ft²
$384/ft²
$320,000 Mar 28, 2024
-
$574/mo
Condo
1 Bed
1 Bath
927 ft²
$313/ft²
$289,900 Jan 3, 2024
-
$561/mo
Condo
1 Bed
1 Bath
775 ft²
$308/ft²
$238,500 Dec 29, 2023
-
$627/mo

Past Sales

Date Unit Beds Baths Sqft Price Closed Owner Listed By
20240125 Unit 6B
01/25/2024
6B
2 Bed
1 Bath
920 ft²
$289,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
920 ft²
-
-
-
Rachel Brochstein
HARRY NORMAN REALTORS
20230623
06/23/2023
2 Bed
1 Bath
1005 ft²
$340,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
Shaka Walker
Engel & Volkers Atlanta
20230829 Unit 7E
08/29/2023
7E
2 Bed
1 Bath
1005 ft²
$330,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
Shaka Walker
Engel & Volkers Atlanta
20230628 Unit B6
06/28/2023
B6
2 Bed
1 Bath
920 ft²
$315,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
920 ft²
-
-
-
Christopher Macken
Engel & Völkers Atlanta
20230308 Unit 2A
03/08/2023
2A
2 Bed
1 Bath
910 ft²
$285,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
910 ft²
-
-
-
KENA MURPHY
Atlanta Communities - West Cobb
20220609 Unit 8A
06/09/2022
8A
2 Bed
1 Bath
1000 ft²
$359,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1000 ft²
-
-
-
Bryan Gates
PalmerHouse Properties
20220421
04/21/2022
2 Bed
1 Bath
1000 ft²
$295,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1000 ft²
-
-
-
Kirsten Conover
Midtown Office
20210721 Unit 1E
07/21/2021
1E
2 Bed
1 Bath
910 ft²
$185,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
910 ft²
-
-
-
Andrew Peters
Real Broker LLC
20210708 Unit 2B
07/08/2021
2B
2 Bed
1 Bath
828 ft²
$225,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
828 ft²
-
-
-
Dayna Broder
Compass
20210305 Unit 7A
03/05/2021
7A
2 Bed
1 Bath
1005 ft²
$259,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
SHAWN PEREZ
ATLANTA FINE HOMES SOTHEBYS INTERNATIONAL
20210118 Unit 4B
01/18/2021
4B
2 Bed
1 Bath
-
$249,900
bedrooms
2 Bed
bathrooms
1 Bath
-
-
-
Kenny Reighard
PalmerHouse Properties & Assoc
20201218 Unit 5A
12/18/2020
5A
2 Bed
1 Bath
1005 ft²
$265,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
Jeannie Pickard
Solid Source Realty GA
20200812 Unit 1E
08/12/2020
1E
2 Bed
1 Bath
910 ft²
$212,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
910 ft²
-
-
-
Andrew Peters
Real Broker LLC
20200702 Unit 7C
07/02/2020
7C
2 Bed
1 Bath
840 ft²
$230,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
840 ft²
-
-
-
TANYA OURSLER
REALTY ASSOCIATES OF ATLANTA LLC
20190828 Unit 8D
08/28/2019
8D
2 Bed
2 Bath
1030 ft²
$264,900
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1030 ft²
-
-
-
DANA RADISIC SAKONJIC
Atlanta Intown Real Estate Services
20190516 Unit 2A
05/16/2019
2A
2 Bed
1 Bath
910 ft²
$215,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
910 ft²
-
-
-
Jason Cook
Ansley Atlanta Real Estate, LLC
20190124 Unit A5
01/24/2019
A5
2 Bed
1 Bath
-
$252,500
bedrooms
2 Bed
bathrooms
1 Bath
-
-
-
Brian Olivard
PalmerHouse Properties & Assoc
20190124 Unit 5A
01/24/2019
5A
2 Bed
1 Bath
1005 ft²
$252,500
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
Brian Olivard
PalmerHouse Properties & Assoc
20181228 Unit 6E
12/28/2018
6E
2 Bed
2 Bath
1000 ft²
$256,900
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1000 ft²
-
-
-
Alex Bonds
eXp Realty Associates, LLC
20181202 Unit B5
12/02/2018
B5
2 Bed
1 Bath
1030 ft²
$250,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1030 ft²
-
-
-
The Key Group
SOLID SOURCE REALTY GA LLC
20181202 Unit 5B
12/02/2018
5B
2 Bed
1 Bath
1030 ft²
$250,000
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1030 ft²
-
-
-
The Key Group
SOLID SOURCE REALTY GA LLC
20181030 Unit 7B
10/30/2018
7B
2 Bed
2 Bath
1030 ft²
$250,000
bedrooms
2 Bed
bathrooms
2 Bath
square feet
1030 ft²
-
-
-
Talia Viggers
ATLANTA FINE HOMES SOTHEBYS INTERNATIONAL
20180831 Unit 3E
08/31/2018
3E
2 Bed
1 Bath
1005 ft²
-
bedrooms
2 Bed
bathrooms
1 Bath
square feet
1005 ft²
-
-
-
-

Building Info

198 Ponce De Leon Avenue Northeast 198 Ponce De Leon Avenue Northeast, Atlanta, GA 30308
  • 2 Units for Sale
More about this Building
198 Ponce De Leon Avenue Northeast
Want to find out who owns 198 Ponce De Leon Avenue Northeast, Atlanta, GA 30308? Get detailed property transactions here .

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