602 W Lake Avenue NW
Atlanta, GA 30318
- – beds
- – baths
- – sqft
- 13,460 sqft lot
- 1930 build
- – on site
Investor Alert! Duplex & ADU Development Opportunity in Grove Park - Housing Voucher Approved Seize this prime investment opportunity in the heart of Atlanta. This housing voucher-approved property at 602 West Lake Ave has been recently rezoned for duplex development with an accessory dwelling unit (ADU), making it an ideal asset for investors seeking long-term rental income and high ROI. Sitting on 1/3 acre, this property offers multiple income streams-renovate and rent immediately or develop a brand-new duplex plus an ADU for maximum cash flow. The existing home is well-maintained with elegant wooden accents, a spacious front and backyard, a new HVAC system, and a solid roof, providing a strong foundation for any investment strategy. Key Investor Benefits: - Housing Voucher Approved - Secure consistent rental income with government-backed tenants. - 3.47% Assumable Mortgage - A rare financing advantage that keeps costs low. - 100% Conventional Financing & $10,000 Grant - Available through Partner Lender United Community Bank. - Prime Location - MARTA bus stop at your doorstep & Bankhead Station within walking distance. - Proximity to Major Attractions - Minutes from the Atlanta Beltline, Westside Park, Proctor Greenway, and Maddox Park. - High Rental Demand - Steps from the brand-new KIPP Woodson Park Academy (K-8), attracting families and long-term tenants. Whether you're looking to fix and rent, develop a high-income duplex & ADU, or capitalize on Atlanta's booming rental market, this property delivers incredible potential. Grove Park is rapidly appreciating-don't miss this turnkey or value-add opportunity. Schedule a viewing today and start building your real estate portfolio in one of Atlanta's hottest growth areas.
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Last updated Mar 15, 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 |
