4 unit around Atlanta

Investor · Atlanta · Member since 2019 · 566 posts · 96 votes

hi,
I heard 4 unit cash flow better. I am looking for 4 unit for long time in Atlanta market. I do not see proper deals. I prefer all 4 units to be town home style 3 bed 2.5 bath and minimal 1800 more square feet not on crawlspace not on septic tank built above 1970. I never saw these type of deals at sensible price not in millions. Please advise

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James JonesPro Member
Investor · Collierville, TN 38017 · Member since 2017 · 876 posts · 614 votes
2d
Four units don't cash flow better by themselves — the rent-to-price math decides that, same as one unit. Run your screen the way I run mine in Memphis: total monthly rent has to clear roughly 1% of the purchase price, or the deal is a hope, not an investment. Your spec is the real problem. Four townhome-style units at 3 bed, 2.5 bath and 1,800 square feet each is four houses in one building, and sellers price it that way — that's why you only see them near a million. Loosen the product, tighten the numbers. I buy single-family under $100K that appraises $180K to $265K and rents $1,395 to $1,950, and deal flow is still my bottleneck at 236 properties. The deals that fit come off-market, through wholesalers — not off a listing search with ten filters on it.
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Gp G.
OP
Investor · Atlanta · Member since 2019 · 566 posts · 96 votes
2d
If I buy 4 unit where one unit in other numbers may work on paper but tomorrow tenants leave from bottom floor complaining kids jumping noise from upstairs and toilet water leaking from upstairs then cost lot to rehab to make rent ready and all numbers become negative suddenly I think
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Gp G.
OP
Investor · Atlanta · Member since 2019 · 566 posts · 96 votes
2d
May not get quality tenants if square feet low and bed bath room mix low as well right
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Hersh ShahBusiness Member
Realtor · Atlanta, GA · Member since 2016 · 126 posts · 82 votes
2d
@Gp G. Multi-family properties do tend to cash flow better than single-family properties and as a result sell based on the income they produce and market value of other similar small multi family properties in the area.
If you don't have an experienced agent who works with investors to help you find options that fit your criteria, you should consider engaging with one. These types of properties aren't easily found online on your own.
Your argument for multi-family vacancy doesn't make sense. Yes its true that if a tenant leaves your income goes down while expenses remain the same, but that is no different than a single family property. In fact, you lose less with a multi-family property because the occupied units still provide some income.
Hersh Shah Group4.9113 Reviews
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Gp G.
OP
Investor · Atlanta · Member since 2019 · 566 posts · 96 votes
7h
Does sites like Zillow and Redfin shows 4 units. I see condo and townhomes etc when I search on multi family
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Jim SternBusiness Member
Real Estate Agent · ATLANTA Metro and Surrounding Counties · Member since 2025 · 30 posts · 12 votes
5h
Henry’s right that the spec is the hard part. Quads with four 3/2.5 units at 1,800+ sq ft each are rare around metro Atlanta, and when one trades it’s priced like four houses. A few ways to widen the net without lowering your standards:
- Loosen the unit mix to 2-bed units. That’s most of the small multifamily stock.
- Don’t make “pre-1970” or “crawlspace” automatic no’s. Older brick quads are often where the discount is. Let the inspection decide (sewer scope, crawlspace, roof, plumbing), not the search filter.
- Look at duplexes and triplexes too.
On noise and leaks between units: check the layout when you tour (side-by-side vs. stacked) and budget for it in your reserves.
What’s your budget and down payment? DM me anytime and I’ll walk through what’s realistic.
678-369-3793
Atlanta's Investor Friendly Team533 Reviews
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