0 Jonesboro Road SE

Description

Unparalleled Multifamily Development Opportunity: 4.5 Acres Zoned Multifamily "By-Right" Seize this rare opportunity to acquire two parcels (14 0027 LL143 & 14 0027 LL123) totaling 4.5 acres of land within the city of Atlanta, with exceptional RG-2 zoning having a .348 FAR, dramatically streamlining your path to development and breaking ground quickly. According to the comprehensive plan, the City of Atlanta wants high density at this site. Located in the Lakewood Neighborhood, a rapidly growing area with high demand for new housing, this property is a developer's dream. With approximately 340' of street frontage and underground utilities located at Jonesboro Rd, a Phase I Environmental Survey has been performed, with no issues or exceptions on site. Key Development Highlights: This offering provides two distinct, high-yield development paths, both permitted "By-Right" under the current multifamily zoning, eliminating the need for lengthy and unpredictable re-zoning processes: Option 1: Townhomes (45 Units) Maximum Yield: The site can accommodate up to 45 individual townhome units. Market Appeal: Townhomes offer high market value, appealing to families, young professionals, and those seeking homeownership benefits without the maintenance of a single-family lot. Option 2: Apartment/Condo Community (75 Units) Maximum Density: Build a thriving community with up to 75 residential units (based on an average unit size of 900 sq ft). Investment Strategy: Ideal for a stable, long-term rental income stream or a high-volume condo sale.