1860 Penelope Road NW Atlanta, GA $ 699,000
1860 Penelope Road NW
$ 699,000
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1860 Penelope Road NW

Atlanta, GA, 30314
$ 699,000
Baths0.0

Monthly Estimate*

$ 4,304

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Studio

Multi-Family Home for sale in Atlanta, GA

for $699,000. This home was built in 1949 on a lot size of 1.748.

Income-producing property in the heart of Atlanta currently operating as a fully functional hostel on 1.75 acres, anchored by a renovated single-family home and a variety of outdoor accommodations and gathering spaces. The business has averaged approximately $150,000 per year in revenue over the past three years (see agent for details). The property is set up for both functionality and expansion, featuring secured gated parking, a gravel parking area accommodating up to 6 vehicles and/or RVs, a detached two-car garage and two access points on Penelope Rd. Outdoor features include a raised mulched terrace, fire pit gathering area, and additional cleared space suitable for adding glamping tents or expanding operations. The seller has completed substantial grading and land improvements, including over $15,000 in plantings, mature pecan and black walnut trees, and well-defined usable outdoor space. The property may also offer subdivision potential (buyer to verify) and is within walking distance to the West Lake MARTA station. The property can be purchased as a fully operational, turnkey business + residential property, or as a single family home. Based on historical performance, the property demonstrates strong double-digit cap rate potential and strong cash flow with the ability to significantly outperform traditional rental properties, while also offering the flexibility to be the ultimate house hack. Seller is open to offering seller financing on the business portion and may also consider financing a portion of a buyer's down payment. Seller financing will require appropriate collateral, either through cross-collateralization or a second lien position if seller is bringing a sizable down payment. The operation is built on a highly automated system designed for remote management, including smart home integration (thermostats, locks, lighting, cameras, doorbells, Google Home), and channel management software connecting Airbnb, VRBO, Booking .com, Hostelworld, Beds24, and additional platforms. Systems include automated guest communication, consolidated messaging, direct booking integration, and a payment platform supporting credit card, cash, digital payments, and cryptocurrency, along with reporting and pricing tools. Seller is willing to provide training post-closing to buyer and is open to extended transition support as a paid consultant if desired. The property includes a substantial inventory of assets used in operations, including a 19-foot Red Sky Shelters yurt, 40-foot high cube shipping container, gazebos, storage structures, smart home systems, automated cleaning systems, Polaris four-wheeler, trailers, and full furnishings for guest accommodations and common areas. The main home was renovated in 2020 and includes hardwood floors, tiled bathrooms, and a renovated kitchen with white cabinetry and granite countertops. The layout includes a primary suite on the main level, along with an unfinished basement with interior and exterior access. Major systems including roof, HVAC, and water heater are approximately 5 years old. There is additional upside through the potential to add an ADU, expand accommodations, or further develop the property. Information deemed reliable but not guaranteed. Buyer to verify all potential uses and information.

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Multi-Family Active

Price

$ 699,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

$ 4,934

Style

Lot Size

1.748

Year Built

1949

Town/City

Atlanta

County/Region

Fulton

MLS | Web ID

10713139

Features
General
Sewer Public Sewer
Heating Central
Cooling Ceiling Fan(s) Central Air
Utilities Sewer Connected
HOA Fee 0
Association Fee Includes None
Construction Materials Brick Stone
Year Built 1949
Levels Two
Property Subtype Multi Family
Tax Year 2025
Gross Income 150000
Community Features Boat/Camper/Van Prkg Near Public Transport
County Fulton
New Construction false
Property Type Residential Income
HOA false
Attached Garage false
Energy Efficient Appliances Insulation Thermostat Water Heater
MaintenanceExpense 0
Subdivision Name Penelope Neighbors
Garage Y/N true
Green Water Conservation Low-Flow Fixtures
Status Price Change
Directions 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.
High School Other
City Atlanta
Body of Water None
Number Of Units Total 0
Lot Size Units Acres
Lot Size Square Feet 76142.88
Carport Y/N false
Elementary School Other
Tax Annual Amount 4934
Electric Expense 0
Fuel Expense 0
Middle/Junior High School Other
Property Condition Resale
Virtual Tour https://www.zillow.com/view-imx/fb6de4e8-9310-4c03-8052-3732ad3e78fd?setAttribution=mls&wl=true&initialViewType=pano&utm_source=dashboard
Structure Type House
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
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Interior
Basement Exterior Entry Interior Entry Partial Unfinished
Total Fireplaces 1
Air Conditioning Y/N true
Heating Y/N true
Fireplace Y/N true
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
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Exterior
Parking Features Garage Storage Detached RV Access/Parking Boat Over 1 Space per Unit
Water Source Public
Total Parking 8
Lot Size Area 1.748
Foundation Details Block
Lot Size Acres 1.748
Lot Size Source Public Records
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* Excluded Features
List By
Down Home Properties

Broker

grantsellsatl@gmail.com

Email

Affordability Calculator

$4,715
Per Month
91%
9%
0%
Monthly Principal & Interest
$4,304
Monthly Property Taxes
$411
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
4826967 Elementary School
4826966 Middle School
Other High School High School
Pricing History
DatePricePrice ChangeDescription
3/19/2026$699,000 47.16% Price Up
3/19/2026$475,000 Listed Price

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1860 Penelope Road NW, Atlanta, GA, 30314 is a Multi-Family Home for sale at $699,000 with a lot size of 1.748. 1860 Penelope Road NW is a studio with 0.0 baths and was built in 1949. The property's zip code is 30314 which is in Atlanta, GA