$2,300,000
1720 Washington Rd, East Point, GA 30344
Current Rent **
N/A
Projected Rent **
N/A
2 Acre Lot in East Point for Sale
For Sale is a level lot located just a few blocks from the East Point MARTA train station and the upcoming “East Point Commons” project that will be transforming the downtown East Point area.
TL;DR
Why Develop Here?
The 2021 Downtown Zoning Overlay allows higher density, mixed-use development by right, with just a site plan review and building permit. No zoning changes needed! The current site plan is modeled out at 107+ units, but can support higher if a new developer desires to re- design the site. A variety of uses are allowed with the Downtown Overlay.
Site characteristics:
• 2 parcels of roughly 1.87ac combined.
• Clean Phase I & Phase II environmental reports.
• Note: The existing building is not suitable for re-use and has a demolition order by the city
pending.
**Site plans for both a 107-unit three-story mixed-use building and apartments or a higher- density 160+ unit four-story building with elevators and higher-end amenities were prepared but not submitted.
Amenities:
• Adjacent to the Resurgence Hall Charter School and East Point Ace Hardware • 2.5 miles from Tyler Perry Studios
• 7 miles to the Atlanta airport
• 2 blocks from East Point MARTA Station
Summary:
Why enter another bidding war on a value-add MF development?
Move Quickly to secure nearly 2 full acres in Downtown East Point.
Parcel is flanked on 3 sides by major roads in the heart of Downtown – zoned as of right for MultiFamily and Mixed Use. Just 3 blocks from the East Point MARTA station, across Church Street from popular Resurgence Hall Charter School, this parcel is fully entitled! A Brand New Downtown Overlay District Zoning was codified in 2021 that allows up to 5 stories of MF or Mixed Use Units to be built as-of-right. Current structure must be demolished (cost of demo = approx. $40k). Sale comes with full entitlements, survey, Phase 1 & 2 Environmentals, Soil Survey, Pro Forma/Site Plan for MF development; all the time-consuming due diligence is already done. Just get LDP/Site Plan/Building Permits approved and get busy converting this teardown into your desired new construction preferred use. Tri Cities is BOOMING – home values are up 22.4% in last 12 months vs +11.7% in FulCo and -0.7% in Metro ATL. 70 Walk Score, $50k Median Household Income, convenient to MARTA/Airport in Fulton County’s 6th largest City.
Location:
1720 Washington Rd, East Point, GA 30344
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† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
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