Description
Phenomenal Development Or Renovation Opportunity In Ormewood Park
Built in 1920, this Southern Craftsman is ready to be reinvigorated and reimagined into a charming residence with great curb appeal.
Just a few blocks off the Beltline and central to all of the vibrance offered throughout SE Atlanta, this location continues to increase in value exponentially.
The opportunity to realize value through renovation and expansion is significant. With an existing structure over 2,000 square feet, and a lot of .25 acre, the potential to add 500 to 1,000+ square feet is easily attainable.
The area supports $430+ per square foot for luxury-caliber development.
Expansive rooms, multiple plumbing stacks, and a broad foundation combine to offer combinations to reconfigure space, build up, or expand outward.
Historic era hallmarks, such as tile fireplaces, tall ceilings, and heart pine floors are just waiting to be revitalized.
The lot depth provides the opportunity for a separate garage and/or ADU.
Considering New Development?
Capitalize on residential development trends in the surrounding area where luxury duplex construction is quickly taking over in-field lots and building upward.
Three-story residences could offer 2,000 to 2,600 square feet, or more, and each could command a price of?over $1M.
Situated to face Florida Ave., the structure could have a driveway running parallel to the adjacent commercial property, providing a buffer to the residences, and servicing a two-car garage for each unit.
New luxury homes in surrounding neighborhoods of Grant Park, Reynoldstown, Edgewood, Kirkwood and Ormewood Park are rapidly taking over city lots.
Homes on similar (or slightly smaller) lots have recently been built that offer over 3,400 square feet of luxury living space, with sales prices reaching over $1.4M.
Construction of these new homes--completed or underway--can be seen in the blocks surrounding ?1129 Sanders, with new projects set to begin soon.
