Property Listing – 2040 Penelope St NW, Atlanta, GA 30314
Property Overview
- Description: Beautifully renovated 2 bed / 2 bath single-family home offering 1,042 sqft of updated living space on Atlanta’s Westside. Located in the hot 30314 zip, this turnkey home is just minutes from downtown, the BeltLine, and Ashby MARTA Station. With premium upgrades throughout and nearby comps pushing high resale values, this is a strong opportunity for both long-term investors and owner-occupants.
- Condition: Fully Renovated (floor repairs still needed – see below)
- Occupancy: Vacant
Deal Details
- Deal Type: Turnkey
- Asking Price: $170,000 (reduced – price adjustment reflects top-end bids for floor repairs)
- Estimated Rent: ~$1,900/month
- ARV (After Repair Value): ~$250,000
Comparable Sales
- 67 Holly Rd NW, Atlanta, GA 30314
- 2bd / 2ba | 1,076 sqft | Sold for $245,900 on 6/30/2025 ($228/sqft)
- 211 Wellington St SW, Atlanta, GA 30314
- 2bd / 1.5ba | 1,236 sqft | Sold for $270,000 on 5/19/2025 ($218/sqft)
Property Condition & Renovation Highlights
New Systems & Major Updates:
- New Roof
- New Main Water Line
- New Electric Panel & Rewiring
- New A/C Ductwork
- New Attic Insulation
- New Tankless Water Heater
Interior Upgrades:
- New Kitchen: Cabinets + Granite Counters
- Updated Bathrooms: Vanities, Mirrors (Light + Defog), Showers, Toilets
- New Flooring, Baseboards, Interior Doors
- All New Switches, Outlets, Blinds & Paint
- Recessed Lighting Throughout
Note: While the property is fully renovated, floor repairs are still needed. The adjusted asking price of $170,000 reflects the top-end bid for this work.
Additional Notes
- 5 mins to Ashby MARTA Station
- Minutes to the BeltLine Westside Trail, Mozley Park, and Downtown Atlanta
- Strong rental demand due to proximity to AUC campuses and city development
- Great fit for long-term hold, short-term rental, or resale
Closing Info
- Buyer Responsibilities: Buyer pays all closing costs
- Access: Vacant — lockbox available
OIP Home Buyers
