602 W Lake Avenue NW
Atlanta, GA 30318
- – beds
- – baths
- – sqft
- 13,460 sqft lot
- 1930 build
- – on site
Fixer-Upper with Major Investment Potential in Grove Park - Build, Rent, Profit! Investor Special! This 2 bed, 2 bath, 1,675 sqft home in Atlanta's fast-growing Grove Park neighborhood is your chance to renovate, rent, and expand. Sitting on a spacious 1/3-acre lot, this property offers multiple streams of income potential-renovate the existing structure, capitalize on Housing Voucher approval for steady rental income, and explore the opportunity to add an ADU or even a second property on the lot. The existing home features original charm with wood accents and a roomy front and backyard, making it a great canvas for investors ready to upgrade and unlock value. This fixer-upper has great bones and is ready for a value-boosting renovation. The lot is large enough to support ADU or duplex development. It is already Housing Voucher approved, offering guaranteed income from day one. You can take advantage of 100% conventional financing and a potential $10,000 grant. The location is ideal with a MARTA bus stop at the door and just minutes from Bankhead Station, the Beltline, Westside Park, and more. It's also close to the new KIPP Woodson Park Academy, making it a great option for families and long-term tenants. Grove Park is undergoing major revitalization-don't miss this opportunity to create a multi-unit income-producing property in one of Atlanta's hottest neighborhoods. Whether you're an experienced investor or looking for your first value-add project, this is the perfect chance to build equity and long-term cash flow. Schedule your tour today and bring your vision!
Last checked:
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Last updated Apr 8, 2025
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MLS# 10475649 —
The Building
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Year Built:1930
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Construction Materials:Brick
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Structure Type:House, Other
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# of Units Total:1
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Levels:One
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Basement:Crawl Space
Interior
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Total Fireplaces:1
Financial & Terms
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Possession:Close Of Escrow
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Owner Pays:Electricity, Gas, Sewer, Trash Collection, Water
Location
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Latitude:33.771924
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Longitude:-84.442254
The Property
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Property Type:Residential Income
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Property Condition:Resale
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Lot Size Acres:0.309
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Lot Size Source:Public Records
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Parcel Number:14 014500050143
Listing Agent
- Contact info:
- Agent phone:
- (770) 851-7638
- Office phone:
- (770) 851-7638
Taxes
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Tax Year:22
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Tax Annual Amount:$1,229.72
Heating & Cooling
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Heating:Natural Gas
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Cooling:Central Air
Utilities
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Utilities:Other
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Sewer:Public Sewer
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Water Source:Public
Schools
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Elementary School:Woodson
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Middle School:J. L. Invictus Academy
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High School:Douglass
The Community
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Subdivision:Grove Park
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Community Features:None
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Association:No
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Association Fee Includes:None
Parking
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Parking Features:Parking Pad
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Transit Score®
Provided by WalkScore® Inc.
Transit Score measures a location's access to public transit. It is based on nearby transit routes frequency, type of route (bus, rail, etc.), and distance to the nearest stop on the route. Transit Scores range from 0 (Minimal Transit) to 100 (Rider’s Paradise).
Soundscore™
Provided by HowLoud
Soundscore is an overall score that accounts for traffic, airport activity, and local sources. A Soundscore rating is a number between 50 (very loud) and 100 (very quiet).
Max Internet Speed
Provided by BroadbandNow®
This is the maximum advertised internet speed available for this home. Under 10 Mbps is in the slower range, and anything above 30 Mbps is considered fast. For heavier internet users, some plans allow for more than 100 Mbps.
Sale history
Date | Event | Source | Price | % Change |
---|---|---|---|---|
3/14/25
Mar 14, 2025
|
Listed / Active | GAMLS | $299,900 |