TWO lots that are adjacent and zoned for single family residential development. This gem of a property is nestled on a quiet, tree-lined street in Scottdale just off East Ponce de Leon Avenue, Lawrenceville Hwy and Mclendon Drive. This subdivided land features a single-family home that has been in place since 1953. There are 3 basic opportunities for the new owner: (1) tear down and build a custom home, (2) tear down and build two custom homes with shared driveway access, or (3) simply renovate the existing house and decide what to do with the remaining land later. In addition to the idea of 3 lots with 3 houses on a shared driveway, a smart single family homeowner looking for equity could buy the house with a renovation loan, make massive improvements on two of the lots, then build a single, new house on the third lot - or even sell off the third lot. Dollar for dollar, a single family home purchase made with a renovation loan - even an FHA loan - could squeeze a whole lot of equity out of a 150x180 piece of land with a house on it, all in for likely under $350K.
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