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Lakewood/Richmond Ave 3 Land Properties Offered at $550,000 in Atlanta, GA
INVESTMENT HIGHLIGHTS
- Flexible MRC-1-C Zoning – Ideal for vibrant mixed-use developments combining retail, office, and residential spaces.
- Immediate Cash Flow – Stable gross annual income of approximately $52,500 provides financial support during redevelopment planning.
- Scalable Redevelopment Opportunity – 0.42-acre package of three contiguous properties enables phased or unified development strategies.
- CDIA Incentive Zone – Unlock significant financial benefits including Low-Income Housing Tax Credits and job creation incentives.
- Strategic Location – Positioned near Lakewood Amphitheater and The Ron Clark Academy, amid substantial community revitalization and new development.
- Community Impact Potential – Excellent fit for socially conscious developers and investors aiming for meaningful local economic and social improvement
EXECUTIVE SUMMARY
Excellent opportunity for developers and impact-oriented investors seeking prime mixed-use redevelopment sites in a rapidly revitalizing area. This three-property package (two duplexes and one single-family home totaling 0.42 acres) is strategically located in Atlanta’s Lakewood Heights, zoned MRC-1-C (Mixed Residential Commercial), permitting a wide range of potential uses—from vibrant mixed-use residential and retail projects to community-centric affordable housing developments.
Benefit from significant economic incentives through its designation within a Community Development Impact Area (CDIA), including eligibility for Low-Income Housing Tax Credits (LIHTC), affordable housing financing, and job creation tax credits.
Immediate cash flow with an estimated gross annual rental income of $52,500 offers financial support during project planning phases. All tenants are currently on a month-to-month lease with flexible move out dates. With close proximity to Lakewood Amphitheater and The Ron Clark Academy, this package represents an ideal investment poised to capitalize on significant neighborhood growth, community renewal, and long-term capital appreciation.
Contact listing agent directly for additional zoning information, potential project scenarios, or site-specific inquiries.
Benefit from significant economic incentives through its designation within a Community Development Impact Area (CDIA), including eligibility for Low-Income Housing Tax Credits (LIHTC), affordable housing financing, and job creation tax credits.
Immediate cash flow with an estimated gross annual rental income of $52,500 offers financial support during project planning phases. All tenants are currently on a month-to-month lease with flexible move out dates. With close proximity to Lakewood Amphitheater and The Ron Clark Academy, this package represents an ideal investment poised to capitalize on significant neighborhood growth, community renewal, and long-term capital appreciation.
Contact listing agent directly for additional zoning information, potential project scenarios, or site-specific inquiries.
PROPERTY FACTS
| Price | $550,000 | Status | Active |
| Sale Conditions | Number of Properties | 3 | |
| Cap Rate | 9.55% | Individually For Sale | 0 |
| Sale Type | Investment | Total Land Area | 0.57 AC |
| Price | $550,000 |
| Sale Conditions | |
| Cap Rate | 9.55% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Land Area | 0.57 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | INDIVIDUAL PRICE |
|---|---|---|---|
| 1640 Lakewood Ave SE, Atlanta, GA 30315 | Land | 0.27 AC | - |
| 1644 Lakewood Ave SE, Atlanta, GA 30315 | Land | 0.15 AC | - |
| 1653 Richmond Ave SE, Atlanta, GA 30315 | Land | 0.15 AC | - |
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Lakewood/Richmond Ave
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