1860 Penelope Road Atlanta, GA $ 699,999
1860 Penelope Road
$ 699,999
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1860 Penelope Road

Atlanta, GA, 30314
$ 699,999
Baths0.0

Monthly Estimate*

$ 4,310

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Studio

Multi-Family Home for sale in Atlanta, GA

for $699,999. 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

$ 699,999

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

7737473

Features
General
Sewer Public Sewer
Heating Central Natural Gas
Cooling Ceiling Fan(s) Central Air
Utilities Cable Available Electricity Available Natural Gas Available Phone Available Sewer Available Water Available
Roof Shingle
Security Features Security Gate
Construction Materials Brick Stone
Year Built 1949
View City Other Trees/Woods
Levels Two
Property Subtype Other
Tax Year 2024
Parcel Number 14 017300090243
Gross Income 150000
Waterfront Features None
Community Features Near Beltline Near Public Transport Near Schools Near Trails/Greenway Public Transportation
Accessibility None
County Fulton - GA
Net Operating Income 0
Operating Expense 26730
Property Type Residential Income
HOA false
Energy Efficient Appliances Insulation Thermostat Water Heater
Subdivision Name Penelope Neighbors
Green Energy Generation None
Status Active
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 Fulton - Other
City Atlanta
Body of Water None
Number Of Units Total 2
Elementary School Fulton - Other
Property Attached Y/N false
Tax Annual Amount 4934
Home Warranty Y/N false
Middle/Junior High School Fulton - 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
Standard Status Active
Tax Lot 0
Cap Rate 0
Freehold IDX
Corporate Owner None
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Interior
Flooring Hardwood
Furnished Y/N Negotiable
Window Features Insulated Windows
Total Baths 0
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Exterior
Fencing None
Parking Features Detached Driveway Garage Level Driveway Parking Lot Paved See Remarks
Lot Features Cleared Farm Level Open Lot Private
Water Source Public
Total Parking 8
Lot Dimensions 0
Lot Size Acres 1.748
Lot Size Source Other
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* Excluded Features
List By
Grant Waugh

Listing Agent

Down Home Properties

Broker

grantsellsatl@gmail.com

Email

Affordability Calculator

$4,721
Per Month
91%
9%
0%
Monthly Principal & Interest
$4,310
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
1927021 Elementary School
1926401 Middle School
Fulton - Other High School High School
Pricing History
DatePricePrice ChangeDescription
3/19/2026$699,999 Listed Price

Map


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1860 Penelope Road, Atlanta, GA, 30314 is a Multi-Family Home for sale at $699,999 with a lot size of 1.748. 1860 Penelope Road is a studio with 0.0 baths and was built in 1949. The property's zip code is 30314 which is in Atlanta, GA