720 Formwalt Street Southwest

Closed 5/3/19

Sold

Last Sold Price

$850,000

4 beds2 baths

720 Formwalt St SW, Atlanta, GA 30315

Multi FamilyProperty Type

0.5 acresLot Size

1960Year Built

1 carParking Spaces

Description

AWESOME investment opportunity! Both 720 and 728 Formwalt are being sold together. These are 1950's brick buildings needing full renovation. Opportunity to earn $1300 - $1400 monthly/unit in rents! There are a total of 16 units with both buildings just waiting on the savvy investor to snag them up. Both communities are on a little over half an acre. Renovate and collect rent for years to come or assemble the lots for a larger project. Zoning is SPI-18 SA4 and other apartment buildings in the area...AWESOME investment opportunity! Both 720 and 728 Formwalt are being sold together. These are 1950's brick buildings needing full renovation. Opportunity to earn $1300 - $1400 monthly/unit in rents! There are a total of 16 units with both buildings just waiting on the savvy investor to snag them up. Both communities are on a little over half an acre. Renovate and collect rent for years to come or assemble the lots for a larger project. Zoning is SPI-18 SA4 and other apartment buildings in the area are listed around $120k/unit. Close to GA State and a resurgent downtown.

Listed by: Marc Takacs • Keller Wms Re ATL Midtown

Listing closed: 05/03/2019 12:00 AM • Source: FMLS, MLS#: 6118889

Recent comparable sales

Median sold price

$795,000

Avg days on market

Sale-to-list ratio

100.4%

$350,000

Sold 06/24/25

4
Bedrooms: 2
Bathrooms: Unavailable
Square Feet: 0.20
Acres

999 Washington Street Southwest, Atlanta, GA 30315

$300,000

Sold 09/25/25

4
Bedrooms: 2
Bathrooms: Unavailable
Square Feet: 0.11
Acres

1074 Welch Street Southwest, Atlanta, GA 30310

$860,000

Sold 05/09/25

4
Bedrooms: 2
Bathrooms: 1,683
Square Feet: 0.23
Acres

823 Cherokee Avenue Southeast, Atlanta, GA 30315

$810,000

Sold 06/27/25

4
Bedrooms: 2
Bathrooms: 2,287
Square Feet: 0.26
Acres

429 Oakland Avenue Southeast, Atlanta, GA 30312

$849,000

Sold 07/03/25

4
Bedrooms: 2
Bathrooms: 2,991
Square Feet: 0.17
Acres

570 Park Avenue Southeast, Atlanta, GA 30312

$750,000

Sold 07/30/25

4
Bedrooms: 2
Bathrooms: Unavailable
Square Feet: 0.17
Acres

746 United Avenue Southeast, Atlanta, GA 30312

$977,000

Sold 04/30/25

4
Bedrooms: 2
Bathrooms: 1,930
Square Feet: 0.16
Acres

73 Waddell Street Northeast, Atlanta, GA 30307

$795,000

Sold 01/21/25

4
Bedrooms: 3
Bathrooms: 2,154
Square Feet: 0.12
Acres

319 St Paul Avenue Southeast, Atlanta, GA 30312

$760,000

Sold 04/03/26

4
Bedrooms: 3
Bathrooms: 2,416
Square Feet: 0.26
Acres

1059 Hill Street Southeast, Atlanta, GA 30315

Get preapproved with Rocket Mortgage¹

Location

Listing Courtesy of Keller Wms Re ATL Midtown, Marc Takacs

Sold By Compass, Alan Corey

Add your commute

Payment Calculator

Get preapproved with Rocket Mortgage¹

$4,836 per month

30 year fixed, 6.55% Interest

Principal and Interest

$4,320

Property Taxes

$516

HOA Dues

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Property Information for 720 Formwalt Street Southwest

Property Details

Taxes: $6,187 / year
MLS Type: Residential Income / Other
County: Fulton County
Subdivision Complex: MECHANICSVILLE
Parking Features: Varies by Unit
Property Attached: No
Waterfront Features: None

Building Information

Residences: 16
Year Built: 1960
Lot Size: 0.50 AC / 21,780 SF

Summary

Location and General Information

Community Features: Street Lights
Directions: 75/85 SOUTH EXIT FULTON ST. RIGHT OFF EXIT AND LEFT ON FORMWALT. BUILDINGS ARE ON LEFT 6 BLOCKS DOWN.

Lake Name: None
View: Other
Coordinates: -84.39553, 33.735222

Taxes and HOA Information

Parcel Number: 14 007500050287
Tax Year: 2007

Block: 5
Tax Lot: 28

School Information

Elementary School: Paul L. Dunbar
High School: Maynard Jackson

Middle School: Martin L. King Jr.

Virtual Tour

Virtual Tour Link PP: https://www.propertypanorama.com/instaview/fmls/6118889

Agent

Payment and Rate

Concessions Amt: $.00

Interior and Exterior Features

Interior Features

Cooling: None
Heating: Natural Gas

Basement: None
Levels/Stories: Two

Exterior Features

Accessibility Features: None
Construction Materials: Brick 4 Sides

Dock: None
Fencing: None
Roof Type: Composition
Security Features: None
Laundry Features: Other

Property

Utilities

Sewer: Public Sewer
Utilities: None

Water Source: Public

Property and Assessments

Assumable: No
Plat Book: 00

Plat Page: 0
Property Condition: Fixer Upper
Possession: Close Of Escrow

Green Features

Green Energy Efficient: None

Lot Information

Section/GMD: 0
Land lot: 75

Lot Features: Level
Lot Size Dimensions: .52
Waterfront Footage: 0.0

Multi Family

Multi-Family Information

Unit Count: 4
NUM OF UNITS: 16

Unit 1

Input Entry Order: 4
Unit Deposit Amount: $.00

Unit Electric Included: No
Unit Features: None
Unit Garbage Included: No
Unit Gas Included: No
Unit Half Baths: 0
Unit Maintenance Included: No
Unit Occupant: Vacant
Unit Water Included: No
Unit Rent Amount: $.00
Unit Full Baths: 1
Unit Bedrooms: 2

Unit 2

Input Entry Order: 1
Unit Deposit Amount: $.00

Unit Electric Included: No
Unit Features: None
Unit Garbage Included: No
Unit Gas Included: No
Unit Half Baths: 0
Unit Maintenance Included: No
Unit Occupant: Vacant
Unit Water Included: No
Unit Rent Amount: $.00
Unit Full Baths: 0
Unit Bedrooms: 0

Unit 3

Input Entry Order: 3
Unit Deposit Amount: $.00

Unit Electric Included: No
Unit Features: None
Unit Garbage Included: No
Unit Gas Included: No
Unit Half Baths: 0
Unit Maintenance Included: No
Unit Occupant: Vacant
Unit Water Included: No
Unit Rent Amount: $.00
Unit Full Baths: 1
Unit Bedrooms: 2

Unit 4

Input Entry Order: 2
Unit Deposit Amount: $.00

Unit Electric Included: No
Unit Features: None
Unit Garbage Included: No
Unit Gas Included: No
Unit Half Baths: 0
Unit Maintenance Included: No
Unit Occupant: Vacant
Unit Water Included: No
Unit Rent Amount: $.00
Unit Full Baths: 0
Unit Bedrooms: 0

Rental

Rent Information

Terms: Other

Property History for 720 Formwalt Street Southwest

Date	Event & Source	Price	Appreciation
Apr 15, 2010	Sold (Public Record) Public Record #290972131	$50,000	-25.2% / yr
Jan 28, 2004	Sold (Public Record) Public Record #308284078	$303,900	—

Date	Event & Source	Price
04/15/2010	Sold (Public Record) Public Record #290972131	$50,000 -25.2% / yr
01/28/2004	Sold (Public Record) Public Record #308284078	$303,900

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 720 Formwalt Street Southwest

Taxable ValueLand$60,000Additions$67,720Total$127,720

Tax Record2025$4,070 ($339 / month)

Home Facts

Baths1Total Finished SqFt5,106 SqFtAbove Grade Finished SqFt5,106 SqFtStories1Lot Size14,353 SqFtStyleMulti-Family Res (5+ Units)Year Built1960Year Renovated1960ZoningR5CountyFULTONAPN14 007500050287

Schools near 720 Formwalt Street Southwest

This home is within Atlanta Public Schools.


Rating	School	Type	Grades	Distance
4/10	Dunbar Elementary School	Public - Serves this home	PK to 5	0.6 mi
5/10	King Middle School	Public - Serves this home	6 to 8	0.9 mi
6/10	Maynard H. Jackson- Jr. High School	Public - Serves this home	9 to 12	1.9 mi
8/10	Neighborhood Charter School	Charter - Choice school	K to 5	1.1 mi
5/10	Wesley International Academy	Charter - Choice school	K to 8	1.1 mi
4/10	KIPP Strive Primary	Charter - Choice school	K to 5	2.3 mi
NR	Tamu S. Kanyama Prep Academy	Private - Nearby school	9 to 11	0.8 mi
NR	Nur Academy	Private - Nearby school	PK to 5	0.9 mi


Rating	School	Distance
4/10	Dunbar Elementary School PublicPK to 5 Serves this home	0.6 mi
5/10	King Middle School Public6 to 8 Serves this home	0.9 mi
6/10	Maynard H. Jackson- Jr. High School Public9 to 12 Serves this home	1.9 mi
8/10	Neighborhood Charter School CharterK to 5 Choice school	1.1 mi
5/10	Wesley International Academy CharterK to 8 Choice school	1.1 mi
4/10	KIPP Strive Primary CharterK to 5 Choice school	2.3 mi
NR	Tamu S. Kanyama Prep Academy Private9 to 11 Nearby school	0.8 mi
NR	Nur Academy PrivatePK to 5 Nearby school	0.9 mi

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

New listings in 30315

Coming Soon

$275,000

4
Bedrooms: 2
Bathrooms: 1,485
Square Feet: 0.62
Acres

37 Claire Drive Southeast, Atlanta, GA 30315

$459,000 | 766 Cooper Street Southwest, Atlanta, GA 30315

1/69

Coldwell Banker Realty Coming Soon

$459,000

4
Bedrooms: 3
Bathrooms: 2,128
Square Feet: 0.16
Acres

766 Cooper Street Southwest, Atlanta, GA 30315

$210,000 | 1576 Wellswood Drive Southeast, Atlanta, GA 30315

1/20

Listed By CompassNew

$210,000

2
Bedrooms: 1
Bathrooms: 876
Square Feet: 0.22
Acres

1576 Wellswood Drive Southeast, Atlanta, GA 30315

1/19

$289,900

3
Bedrooms: 2
Bathrooms: 1,312
Square Feet: 0.23
Acres

2123 Rachael Street Southeast, Atlanta, GA 30315

$139,900

3
Bedrooms: 1
Bathrooms: 975
Square Feet: 0.25
Acres

890 McWilliams Road Southeast, Atlanta, GA 30315

$211,000 | 391 South Bend Avenue Southeast, Atlanta, GA 30315

1/13

Open: 9/6 02:00PM - 05:00PM

$211,000

3
Bedrooms: 4
Bathrooms: 1,241
Square Feet: 0.20
Acres

391 South Bend Avenue Southeast, Atlanta, GA 30315

$185,000 | 1195 Milton Terrace Southeast, Unit 1106, Atlanta, GA 30315

1/58

Listed By Compass

$185,000

1
Bedrooms: 1
Bathrooms: 943
Square Feet

1195 Milton Terrace Southeast, Unit 1106, Atlanta, GA 30315

1/10

$199,500

2
Bedrooms: 2
Bathrooms: 1,030
Square Feet: 0.26
Acres

2247 Jernigan Drive Southeast, Atlanta, GA 30315

$190,000

3
Bedrooms: 1
Bathrooms: 1,147
Square Feet: 0.22
Acres

2187 Polar Rock Terrace Southwest, Atlanta, GA 30315

Nearby home values

Address	Sold price	Beds	Baths	Sqft	Lot (Sqft)
This home: 720 Formwalt Street Southwest, Atlanta, GA 30315	$850,000	4	2	–	21,780
232 Bass Street Southwest, Atlanta, GA 30315	–	3	1	1,929	3,659
228 Bass Street Southwest, Atlanta, GA 30315	–	3	1	1,945	3,659
728 Formwalt Street Southwest, Atlanta, GA 30315	$60,000	–	1	3,544	7,797
734 Formwalt Street Southwest, Atlanta, GA 30315	$55,000	–	–	–	7,825
719 Formwalt Street Southwest, Atlanta, GA 30315	$125,100	3	2.5	1,960	3,998
727 Formwalt Street Southwest, Atlanta, GA 30315	$77,500	3	3	1,806	–
723 Formwalt Street Southwest, Atlanta, GA 30315	$130,000	3	3	1,806	3,702
715 Formwalt Street Southwest, Atlanta, GA 30315	$4,100	3	3	1,656	3,528
731 Formwalt Street Southwest, Atlanta, GA 30315	$50,500	4	4	2,252	4,486
717 Pryor Street Southwest, Atlanta, GA 30315	$750,000	–	–	2,268	3,136
711 Formwalt Street Southwest, Atlanta, GA 30315	$2,500	3	2.5	2,036	4,486
227 Bass Street Southwest, Atlanta, GA 30315	$15,500	3	2	1,360	4,922
738 Formwalt Street Southwest, Atlanta, GA 30315	–	–	1	4,608	7,797
223 Bass Street Southwest, Atlanta, GA 30315	$100,000	4	3	2,342	4,922

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Keller Wms Re ATL Midtown, Marc Takacs

Based on information from one of the following Multiple Listing Services:FMLS,FMLS_CS,GAMLS,Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS, Tiftarea Board of Realtors.Information being provided is for the visitor's personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by FMLS,FMLS_CS,GAMLS, Middle GA MLS,Columbus Board of REALTORS, Northeast Georgia Board of REALTORS, Tiftarea Board of Realtors is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Atlanta, GA

Know your buying power with a preapproval and custom rate in minutes

Explore Nearby Homes

Homes in Nearby Mechanicsville Neighborhoods

Homes in Nearby Mechanicsville Cities

Homes in Nearby Mechanicsville Zip Codes