Martin Luther King Jr Histric Site area (Atlanta, Auburn: sales, real estate)

[Nemo2007]

Hi, All

I would like to buy a single family home in close to I-285 but those houses tend to be expensive. I was wondring how the area around Martin Luther King jr National Historic Site is? I heard it used to be really bad but it has been cleaned up a lot. Is it going to get better? Do you think this would be a good investment that after few years the property value go up?
Is it a safe area?
Please advise!!

[BobKovacs]

If you're talking about the area near the state capital buildings, it sure doesn't look like much of a nice area based on the few times I've driven through it. In general, the cheaper areas are going to be worse than the better areas- it's that old real estate adage- location, location, location.

Bob

[Nemo2007]

Bob, thanks for your advice. Martin Luther King historic area is close to Georgia Tech and Midtown so I thought the property value will go up in the future.

[BobKovacs]

Originally Posted by Nemo2007

Bob, thanks for your advice. Martin Luther King historic area is close to Georgia Tech and Midtown so I thought the property value will go up in the future.

It very well might- you've just got to avoid getting shot before then....

Bob

[atlantagreg30127]

Originally Posted by Nemo2007

Bob, thanks for your advice. Martin Luther King historic area is close to Georgia Tech and Midtown so I thought the property value will go up in the future.

If by "getting better" you mean "there's now less than 5 murders a day there now", then yeah, it's getting better.

Ok, that's an overstatement, but the fact is that many homes sales in that area are from "flippers" - people who are going in and buying the older rundown homes and doing quick remodels on them and flipping them via sales. Investors - investors who you do not see actually living in that area. Like you, they are hoping that it will be the next "up and coming" neighborhood area in Atlanta. Now, considering how SOME intown areas have turned around, it just may be the next Grant Park or Atlantic Station - but it's had a very iffy past, and not too glowing present, so personally I'd be leery of living there *right now*.

Just my opinion.

[Parsec]

It's just on the other side of the highway from those new GSU dorms and the Atlanta Housing Authority. When I used to work in the area, I walked to many restaurants in the area and it seemed safe in the daytime. Many businesses and lots of pedestrian traffic. On the occasional day that I left work late, it seemed pretty scary though.

[south-to-west]

The Historic District Development Corporation has been very active and succesful in rehabbing existing homes and building new ones. The area near the King Center is booming now and home values have been skyrocketing. New stores and restaurants have entered the area in the past six years as well, including Thumbs Up Diner, which is one of the most popular diners in all of Metro Atlanta.

Also nearby is Inman Park Village, where new condos and apartments have been built. This area is poised to be the next major neighborhood center in the city next to Little 5 Points and East Atlanta.

Cabbagetown, which is located on the other side of the CSX railroad line, is a very historic neighborhood with unique architecture. It was once a mill town, but since then, the mill has been converted to lofts, and young couples and boho/artsy folks have rehabbed the housing stock there. New homes being built in the neighborhood reflect the character and architecture there. New home values are still a little more affordable there as well than in the Old Fourth Ward/Historic District.

There is still some crime in the area, with the portion of Edgewood Avenue between Boulevard and Downtown being the seediest area. However, the further east you get, the better it is.

[Atlantasfinest]

I own in the area and have lived in the Old 4th Ward/Inman Park area for over 5 years now so I may have more insight to what your looking for.

The Historic MLK District commonly refered to as The Old 4th Ward area is very nice area. The areas you want to base your search would be to stay east of boulevard avenue to the Inman Park border, South of Freedom Parkway and North of Edgewood Boulevard(refer to a map). This is where you want to concetrate your home search and this is where most of the few remaining residential lots exist.

There really isn't too much left because people have already realized long ago that the area was a goldmine of gentrification so you see most new construction homes selling from the mid-300K all the way up. There are some really nice homes on Auburn Avenue and where MLK's childhood home is located as well. It's a beautiful quiet street that I take walks by daily.

The areas the above posters are referring to are areas where it's mostly commercial businesses & restaurants which is west of Boulevard on Auburn and Edgewood which you will not find any single family housing in anyway. Edgewood Blvd. is cleaning up nicely on the north side of Boulevard is home to many nice restaurants and coffee shops. Stick with the area I described and you will be fine. It borders Inman Park/Midtown/Cabaggetown/Lil Five points so it's the cultural heart beat of the city with great freeway access to 75/85 and 20. Hope this helps. Here is a n'hood profile in Delta Sky Magazine that features Old 4th Ward Delta-Sky Magazine.

[Atlantasfinest]

Originally Posted by BobKovacs

If you're talking about the area near the state capital buildings, it sure doesn't look like much of a nice area based on the few times I've driven through it. In general, the cheaper areas are going to be worse than the better areas- it's that old real estate adage- location, location, location.

Bob

The MLK Historic District isn't near the State Capital Buidings! It's located in the Old 4th Ward near Inman Park.

[Atlantasfinest]

Originally Posted by Nemo2007

Bob, thanks for your advice. Martin Luther King historic area is close to Georgia Tech and Midtown so I thought the property value will go up in the future.

The Old 4th Ward is not located near GA Tech, more near Georgia State University but it does border midtown & Inman Park & downtown and the property value CONTINUES to rise, I can attest to that . The area offers some of the best public schools in Atlanta which are John Hope Elementary, Inman Middle & Grady High School.