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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.
Property Type(s):
Single Family
| Last Updated | 3/18/2026 | Tract | Penelope Neighbors |
|---|---|---|---|
| Year Built | 1949 | Garage Spaces | 8.0 |
| County | Fulton |
SCHOOLS
| Elementary School | Other |
|---|---|
| Jr. High School | Other |
| High School | Other |
Additional Details
| AIR | Ceiling Fan(s), Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Dishwasher, Disposal, Dryer, Microwave , Refrigerator, Washer |
| BASEMENT | Exterior Entry, Interior Entry, Partial, Unfinished, Yes |
| CONSTRUCTION | Brick, Stone |
| EXTERIOR | Fire Pit, Garden |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Central |
| INTERIOR | High Speed Internet, In-Law Floorplan, Master Downstairs, Walk-In Closet(s) |
| LOT | 1.748 acre(s) |
| LOT DESCRIPTION | City Lot, Level, Open Lot, Pasture, Private |
| PARKING | Detached, Garage, Storage, Boat |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Cape Cod, Traditional |
| SUBDIVISION | Penelope Neighbors |
| TAXES | 4934 |
| UTILITIES | Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Sewer Connected, Water Available |
| VIEW | Yes |
| VIEW DESCRIPTION | City, Valley |
| WATER | Public |
| WATER ACCESS | NONE |
Location
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Listed with Down Home Properties
The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of GAMLS. All real estate listings are marked with the GAMLS Broker ReciprocitySM thumbnail logo and detailed information about them includes the name of the listing brokers.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 GAMLS. All rights reserved.
The broker providing these data believes them to be correct, but advises interested parties to confirm them before relying on them in a purchase decision.
Copyright 2026 GAMLS. All rights reserved.
This IDX solution is (c) Diverse Solutions 2026.
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