What is the best intown neighbourhood for investment? (Atlanta, Washington: for sale, real estate)

[melvin123]

Hi,

I am not from Atlanta, but I am interested in investing in some property.

I have been looking at some listing of houses for sale, and I see a lot that are below $50,000, which seems really cheap. I see a lot of investment being made in the center of Atlanta, e.g. Beltline, and I see that people are going to really want to live in neighborhoods that they haven't in the recent past.

Can anyone suggest great up and coming areas to buy in? I heard that Capitol View and Capitol View Manor are not that dangerous, and people are moving there. How about West Atlanta? Any other suggestions? I am looking for something that is not too dangerous.

[Atlwarrior]

I just ask that you do a complete gutting and renovation. I was under contract for a house in Capitol View area, but the home inspection was a nightmare. The investor was not from Atlanta, flip the property and staged it. The house had foundational, roofing, plumbing, and electrical problems. Personally I think West End might be the best area, as the current comps are around 170,000. I' m under contract for a 165,000 dollar house that was totally gutted and renovated.

[atl parent]

I'd say Old Fourth Ward. Some of the intown improvements (e.g. Ponce Market, Beltline) and the re-districting of their schools into the higher performing Inman/Grady cluster have already been priced into homes...but not all of it. In five to ten years, I think O4W real estate will be worth quite a bit more than it is now.

[Iconographer]

Originally Posted by atl parent

I'd say Old Fourth Ward. Some of the intown improvements (e.g. Ponce Market, Beltline) and the re-districting of their schools into the higher performing Inman/Grady cluster have already been priced into homes...but not all of it. In five to ten years, I think O4W real estate will be worth quite a bit more than it is now.

My thought as well...so many positive things are happening there, particularly the Beltline, Ponce City Market and the new park.
I was going to add Reynoldstown to the list. Close to Edgewood City Plaza, Little Five Points and shares a rail station with Inman Park. I can see its stock rising dramatically over the next few years.

[cqholt]

O4W, Reynoldstown, Edgewood, Sumemrhill, Peoplestown, West End.

[melvin123]

What is the West End area like? Is it safe? Are people moving there?

Thanks for all the great advice.

[joey86]

Originally Posted by melvin123

What is the West End area like? Is it safe? Are people moving there?

Thanks for all the great advice.

For the most part it is safe. It isn't Mayberry but it isn't a bad place to live. From what I see a good many people are moving in and fixing up houses. It should be a safe investment.

[bryantm3]

Originally Posted by melvin123

What is the West End area like? Is it safe? Are people moving there?

Thanks for all the great advice.

well what do you mean by "invest"? are you going to be another absentee landlord, or are you considering moving in the house?

[gtcorndog]

Originally Posted by melvin123

What is the West End area like? Is it safe? Are people moving there?

Thanks for all the great advice.

I wouldn't live there. The crime is high. I think it is 15-20 years away from any appreciable turnaround. Too much poverty, crime and lack of amenities in the area to overcome for my investment dollar. There are better options in the city.

[Nanosolar]

Possibly to late for the O4W bandwagon, I guess it depends on what kind of return you expect. Here's my amateur analysis:

White people
Virginia Highland
Inman Park
Midtown
Grant Park
Lake Claire
Candler Park
Ormewood Park

Semi-scary
O4W
West Midtown (Knight Park)
Home Park
Castleberry Hill
Cabbagetown
Capitol Gateway

Scary
East Atlanta Village
West End
Edgewood
Kirkwood
Boulevard Crossing
Adair Park
SoNo

Super Scary
Summerhill
Reynoldstown
East Lake
Capitol View
Washington Park

**** get me out of here
English Ave
Vine City
Mechanicsville
Pittsburgh
Bankhead