1860 Penelope Road Nw, Atlanta, GA 30314
Local realty services provided by:Better Homes and Gardens Real Estate Metro Brokers
Listed by: grant waugh
Office: down home properties
MLS#:7737276
Source:FIRSTMLS
Price summary
- Price:$475,000
- Price per sq. ft.:$281.4
About this home
Set on 1.75 acres in the heart of Atlanta, this renovated home offers a rare opportunity to own your own urban oasis with the flexibility to live, host, and generate income all in one place.
With cash flow becoming harder to find, this property offers a unique opportunity. Enjoy it as a private residence with incredible outdoor space, purchase it as a fully operating hostel business that has averaged approximately $150,000 per year in revenue over the past three years (see agent for details), or use it as the ultimate house hack.
The true highlight of this property is the land and outdoor experience, with features throughout the designed for gathering, entertaining, and flexible use. The grounds have been improved with over $15,000 in plantings, mature pecan and black walnut trees, and expansive cleared space ideal for gardening or simply enjoying the outdoors. A looping gravel drive with two access points on Penelope Rd, a secured gated entrance, and a gravel parking lot for 6+ vehicles or RVs provide both functionality and flexibility. The outdoor setup includes an outdoor shower, fire pit lounge area, elevated mulched terrace, pavilion-style seating and grilling area, multiple storage structures, a striking mural-covered shipping container, and additional structures including a yurt and glamping-style accommodations.
The home was renovated in 2020 and features bright, updated interiors, including hardwood floors throughout, tiled bathrooms, and a renovated kitchen with white cabinetry and granite countertops. The layout offers flexibility for a variety of living arrangements, including a primary suite on the main level. An unfinished basement with interior and exterior entry, newer major systems including roof, HVAC, and water heater (all approximately 5 years old), and a detached two-car garage add functionality and long-term value. The property also offers ample space to add an ADU or convert the detached two-car garage into an ADU, creating an additional income stream.
There may also be potential to subdivide the property into multiple parcels; Buyer should confirm feasibility with the appropriate authorities.
A truly unique opportunity to own a property with rare acreage, character, and income potential in the heart of Atlanta....
Contact an agent
Home facts
- Year built:1949
- Listing ID #:7737276
- Updated:May 07, 2026 at 01:31 PM
Rooms and interior
- Bedrooms:3
- Total bathrooms:3
- Full bathrooms:2
- Half bathrooms:1
- Flooring:Hardwood
- Dining Description:Open Concept, Separate Dining Room
- Bathrooms Description:Tub/Shower Combo
- Kitchen Description:Cabinets White, Dishwasher, Disposal, Gas Cooktop, Gas Range, Microwave, Refrigerator, Stone Counters
- Bedroom Description:Master on Main
- Basement Description:Exterior Entry, Interior Entry, Partial, Unfinished
- Living area:1,688 sq. ft.
Heating and cooling
- Cooling:Ceiling Fan(s), Central Air
- Heating:Central
- Central air:Yes
Structure and exterior
- Roof:Shingle
- Year built:1949
- Building area:1,688 sq. ft.
- Lot area:1.75 Acres
- Lot Features:Back Yard, Farm, Front Yard, Level, Private
- Architectural Style:Cape Cod, Traditional
- Construction Materials:Stone
- Exterior Features:Covered, Deck, Garden, Patio, Private Yard, Rain Gutters, Storage
- Levels:2 Story
Schools
- High school:Fulton - Other
- Middle school:Fulton - Other
- Elementary school:Fulton - Other
Utilities
- Water:Public, Water Available
- Sewer:Public Sewer, Sewer Available
Finances and disclosures
- Price:$475,000
- Price per sq. ft.:$281.4
- Tax amount:$4,934 (2025)
Features and amenities
- Laundry features:Dryer, In Basement, Washer
- Amenities:ENERGY STAR Qualified Appliances, High Speed Internet, Low Flow Plumbing Fixtures, Smart Home
Parking
- Total parking spaces:6
- Parking description:Detached, Driveway, Garage, Level Driveway, RV Access/Parking
- Garage spaces:2
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