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699 Spring St NW, Atlanta, Georgia 30308
$
1999
Bedrooms
1
Utilities Included
No
Bathrooms
1
Furnished
Yes
Available to Lease on
ASAP
Property Type
Apartment
SQFT
500
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Key metrics
Rent
$
1999
Monthly Estimated Profit?
$
3235
Annual Estimated Profit?
$
38820
Acquisition Fee
$
3500
Security Deposit
$
1999
Average Daily Rate
$
309
Occupancy
58%
Annual Revenue
$
65500
Key Features

Property Description:

Fully furnished luxury apartments at 699 Spring St NW, Atlanta, GA 30308, offering studio to 5-bedroom units with high-end amenities and resort-style features. Located just 1 mile (approximately 5 minutes) from downtown Atlanta, this property is Airbnb-friendly, with a minimum 5-night stay requirement for short-term rentals.

Investment Highlights

  • Studio Penthouse: Rent: $1,959 | Annual Revenue: $65,508+ | Monthly Profit: $3,310
  • 1-Bedroom, 1-Bathroom: Rent: $1,999 | Annual Revenue: $65,500+ | Monthly Profit: $3,235
  • 2-Bedroom, 2-Bathroom: Rent: $1,549 | Annual Revenue: $49,000+
  • 4-Bedroom, 4-Bathroom: Rent: $5,756 | Annual Revenue: $160,000+ | Monthly Profit: $7,127
  • 5-Bedroom, 5-Bathroom: Rent: $6,183 | Annual Revenue: $156,400+ | Monthly Profit: $6,183
  • Security Deposit: Dependent on the application

Apartment Features

  • Fully furnished units
  • Modern open layouts
  • High-end finishes and appliances
  • Smart home features
  • Private balconies (select units)

Community Amenities

  • Rooftop pool & sun shelf with cabanas
  • Hot tub & sauna
  • Sky Lounge & entertainment lounge
  • Outdoor theater lawn
  • Game lawn & golf simulator
  • Hammock & herb garden
  • Study café & reading nook
  • Coffee & breakfast bar
  • Yoga studio & outdoor yoga garden
  • Fitness center & pet wash station
  • Dog run for pet-friendly living

Rental Terms & Fees

  • Lease Length: 1 Year+
  • Minimum Airbnb Stay: 5 nights
  • Security Deposit: Based on application

‍

STR Regulations Summary:  

Status:
Mixed

View Regulations Here

Here are the key points regarding STR regulations for non-owner-occupied properties in Atlanta:

  1. License requirement: Hosts must obtain a short-term rental license for each property, including non-owner-occupied units12.
  2. Property limit: The city caps short-term rental ownership at two properties per resident. One of these properties must be the owner's primary residence, while the other can be a non-owner-occupied unit13.
  3. Licensing process: To obtain a license for a non-owner-occupied property, hosts must first apply for and receive a license for their primary residence before applying for the second property5.
  4. Fees and taxes: Hosts must pay $150 annually for the license, plus an 8% tax rental fee for each property, including non-owner-occupied units13.
  5. Residency requirement: Even for non-owner-occupied properties, the host must be a resident of Atlanta to obtain a license15.
  6. Duration of stays: Non-owner-occupied STRs, like all short-term rentals in Atlanta, are limited to stays of less than 30 consecutive days25.
  7. Compliance: Non-owner-occupied STRs must adhere to all city regulations, including noise ordinances and party restrictions, to avoid penalties or license revocation15.
  8. Zoning: Short-term rentals, including non-owner-occupied properties, are permitted in all residential zones in Atlanta2.

‍

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