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Daniel Frankson

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$ 475,000

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1860 Penelope RD NW Atlanta, GA 30314

3 Beds

2.5 Baths

1,688 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,688 sqft

Price per Sqft $281

Subdivision Penelope Neighbors

MLS Listing ID 10712961

Style Cape Cod,Traditional

Bedrooms 3

Full Baths 2

Half Baths 1

HOA Y/N No

Year Built 1949

Annual Tax Amount $4,934

Tax Year 2025

Lot Size 1.748 Acres

Acres 1.748

Lot Dimensions 1.748

Property Sub-Type Single Family Residence

Source Georgia MLS 2

Property Description

Set on 1.75 acres in the heart of Atlanta, this renovated home offers a rare opportunity to own your own urban oasis with the flexibility to live, host, and generate income all in one place. With cash flow becoming harder to find, this property offers a unique opportunity. Enjoy it as a private residence with incredible outdoor space, purchase it as a fully operating hostel business that has averaged approximately $150,000 per year in revenue over the past three years (see agent for details), or use it as the ultimate house hack. The true highlight of this property is the land and outdoor experience, with features throughout the designed for gathering, entertaining, and flexible use. The grounds have been improved with over $15,000 in plantings, mature pecan and black walnut trees, and expansive cleared space ideal for gardening or simply enjoying the outdoors. A looping gravel drive with two access points on Penelope Rd, a secured gated entrance, and a gravel parking lot for 6+ vehicles or RVs provide both functionality and flexibility. The outdoor setup includes an outdoor shower, fire pit lounge area, elevated mulched terrace, pavilion-style seating and grilling area, multiple storage structures, a striking mural-covered shipping container, and additional structures including a yurt and glamping-style accommodations. The home was renovated in 2020 and features bright, updated interiors, including hardwood floors throughout, tiled bathrooms, and a renovated kitchen with white cabinetry and granite countertops. The layout offers flexibility for a variety of living arrangements, including a primary suite on the main level. An unfinished basement with interior and exterior entry, newer major systems including roof, HVAC, and water heater (all approximately 5 years old), and a detached two-car garage add functionality and long-term value. The property also offers ample space to add an ADU or convert the detached two-car garage into an ADU, creating an additional income stream. There may also be potential to subdivide the property into multiple parcels; Buyer should confirm feasibility with the appropriate authorities. A truly unique opportunity to own a property with rare acreage, character, and income potential in the heart of Atlanta.

Location

State GA

County Fulton

Rooms

Bedroom Description No

Other Rooms Garage(s), Outbuilding, Second Garage, Shed(s), Workshop

Basement Exterior Entry, Interior Entry, Partial, Unfinished

Dining Room Separate Room

Interior

Interior Features In-Law Floorplan, Master On Main Level, Roommate Plan, Tile Bath, Walk-In Closet(s)

Heating Central

Cooling Ceiling Fan(s), Central Air

Flooring Hardwood

Fireplaces Number 1

Fireplaces Type Living Room

Fireplace Yes

Appliance Dishwasher, Disposal, Dryer, Microwave, Refrigerator, Washer

Laundry In Basement

Exterior

Exterior Feature Garden

Parking Features Garage, Storage, Detached, RV Access/Parking, Boat, Over 1 Space per Unit

Garage Spaces 8.0

Community Features Boat/Camper/Van Prkg, Near Public Transport

Utilities Available Cable Available, Electricity Available, High Speed Internet, Natural Gas Available, Phone Available, Sewer Available, Sewer Connected, Water Available

Waterfront Description No Dock Or Boathouse

View Y/N Yes

View City, Valley

Roof Type Other

Total Parking Spaces 8

Garage Yes

Private Pool No

Building

Lot Description City Lot, Level, Open Lot, Pasture, Private

Faces No sign in yard. Once on Anderson Ave, turn left on to Penelope Rd NW Home is on the left just past the speed hump.

Foundation Block

Sewer Public Sewer

Water Public

Architectural Style Cape Cod, Traditional

Structure Type Brick,Stone

New Construction No

Schools

Elementary Schools Other

Middle Schools Other

High Schools Other

Others

HOA Fee Include None

Tax ID 14 017300090243

Security Features Gated Community,Security System,Smoke Detector(s)

Acceptable Financing Cash, Conventional, Owner Will Carry, Owner 2nd, Private Financing Available

Listing Terms Cash, Conventional, Owner Will Carry, Owner 2nd, Private Financing Available

Special Listing Condition Resale

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Daniel Frankson

Real Estate Advisor | License ID: 348806

+1(404) 808-4867

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