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602 Lake Avenue; Atlanta, GA 30318

$245,000

1,675 Sq Ft
2 Bedrooms
2 Bathrooms
Parking Pad
7564294
Fixer-Upper with Major Investment Potential in Grove Park - Build, Rent, Profit! Investor Special! This 2 bed, 2 bath, 1,675 sqft home in Atlanta's fast-growing Grove Park neighborhood is your chance to renovate, rent, and expand. Sitting on a spacious 1/3-acre lot, this property offers multiple streams of income potential-renovate the existing structure, capitalize on Housing Voucher approval for steady rental income, and explore the opportunity to add an ADU or even a second property on the lot. The existing home features original charm with wood accents and a roomy front and backyard, making it a great canvas for investors ready to upgrade and unlock value. This fixer-upper has great bones and is ready for a value-boosting renovation. The lot is large enough to support ADU or duplex development. It is already Housing Voucher approved, offering guaranteed income from day one. You can take advantage of 100% conventional financing and a potential $10,000 grant. The location is ideal with a MARTA bus stop at the door and just minutes from Bankhead Station, the Beltline, Westside Park, and more. It's also close to the new KIPP Woodson Park Academy, making it a great option for families and long-term tenants. Grove Park is undergoing major revitalization-don't miss this opportunity to create a multi-unit income-producing property in one of Atlanta's hottest neighborhoods. Whether you're an experienced investor or looking for your first value-add project, this is the perfect chance to build equity and long-term cash flow. Schedule your tour today and bring your vision!
Key Facts
  • Style:
  • Year Built: 1930
  • Status: Active
Schools
  • Elementary School: Woodson Park Academy
  • Middle School: John Lewis Invictus Academy/Harper-Archer
  • High School: Frederick Douglass
Bedrooms
  • Beds Total: 2
Bathrooms
  • Baths Full: 2
  • Baths Half: 0
  • Main Full Baths: 2
  • Master Bath Features: Shower Only

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Listing information last updated on June 27, 2025
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