Exceptional Multi-Property Investment Opportunity – Prime Assemblage on Covington Highway Seize a rare and highly versatile investment opportunity with this unique assemblage of three contiguous properties, collectively offering 4.62 acres of valuable real estate with approximately 40 feet of frontage along Covington Highway. This portfolio is ideally suited for a variety of development or renovation strategies, from enhancing the existing homes to constructing a small residential community. Its strategic location just minutes from Highway 285 ensures excellent connectivity and long-term value growth. Property Breakdown: Lot 1:A spacious 4-bedroom, 3-bathroom home encompassing 2,357 square feet of finished living space, plus an additional 391 square foot unfinished basement—perfect for customization or expansion. The home sits on a generously sized 0.66-acre lot, offering ample yard space and privacy. Lot 2:A charming 3-bedroom, 2-bathroom residence featuring 1,891 square feet of interior space, along with a 300 square foot unfinished basement. Set on a substantial 1.39-acre lot, this property offers both comfort and future development potential. Lot 3:A cozy 3-bedroom, 1-bathroom home offering 1,264 square feet of living area, situated on a sprawling 2.57-acre lot. Ideal for personal use, rental income, or as a candidate for redevelopment. Total Combined Acreage: 4.62 Acres With a flexible layout and diverse structures, this assemblage offers multiple paths for return on investment: Renovate and lease existing residences Develop a boutique housing enclave Subdivide and sell parcels individually Hold for long-term appreciation in a rapidly developing corridor Key Highlights: Prime location on Covington Highway Easy access to major thoroughfares, especially I-285 Approximately 40 feet of road frontage Flexible zoning potential (buyer to verify) Seller is open to offers on individual lots—see additional listings #10488862 and #10488863 for separate details. This is a compelling acquisition for investors, developers, or visionaries seeking a strategically located, multi-parcel property with excellent upside potential.
Active
$350,000
5159 Covington Hwy, Decatur, GA 30035
4beds
2,748sqft
Est.:
Single Family Residence, Residential
Built in 1964
0.7 Acres Lot
$347,300 Zestimate®
$127/sqft
$-- HOA
What's special
- 123 days
- on Zillow |
- 73 |
- 7 |
Zillow last checked: 7 hours ago
Listing updated: May 09, 2025 at 10:55am
Listing Provided by:
KIMBERLY D BRANCH,
Keller Williams Realty Atl Partners,
ERIC RENDER,
Keller Williams Realty Atl Partners
Source: FMLS GA,MLS#: 7549947

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 3
- Full bathrooms: 3
- Main level bathrooms: 3
- Main level bedrooms: 4
Rooms
- Room types: Family Room, Laundry
Primary bedroom
- Features: In-Law Floorplan
- Level: In-Law Floorplan
Bedroom
- Features: In-Law Floorplan
Primary bathroom
- Features: None
Dining room
- Features: None
Kitchen
- Features: Breakfast Bar
Heating
- Electric, Forced Air
Cooling
- Central Air, Electric
Appliances
- Included: Dishwasher, Gas Water Heater, Microwave, Refrigerator
- Laundry: Laundry Room, Other
Features
- High Ceilings 9 ft Lower, High Ceilings 9 ft Main, High Ceilings 9 ft Upper, High Speed Internet
- Flooring: Carpet, Hardwood, Laminate
- Windows: None
- Basement: Partial
- Has fireplace: No
- Fireplace features: None
- Common walls with other units/homes: No Common Walls
Interior area
- Total structure area: 2,748
- Total interior livable area: 2,748 sqft
- Finished area above ground: 2,357
- Finished area below ground: 98
Video & virtual tour
Property
Parking
- Total spaces: 2
- Parking features: Carport
- Carport spaces: 2
Accessibility
- Accessibility features: None
Features
- Levels: One and One Half
- Stories: 1
- Patio & porch: Covered
- Exterior features: None, No Dock
- Pool features: None
- Spa features: None
- Fencing: None
- Has view: Yes
- View description: Trees/Woods
- Waterfront features: None
- Body of water: None
Lot
- Size: 0.7 Acres
- Features: Back Yard, Wooded
Details
- Additional structures: None
- Parcel number: 15 162 05 020
- Special conditions: Standard
- Other equipment: None
- Horse amenities: None
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Ranch
- Property subtype: Single Family Residence, Residential
Materials
- Brick, Brick 4 Sides
- Foundation: Slab
- Roof: Composition
Condition
- Resale
- New construction: No
- Year built: 1964
Utilities & green energy
- Electric: 220 Volts
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Cable Available, Electricity Available, Natural Gas Available
Green energy
- Energy efficient items: None
- Energy generation: None
Community & HOA
Community
- Features: Street Lights
- Security: Carbon Monoxide Detector(s), Fire Alarm, Security System Leased, Security System Owned, Smoke Detector(s)
- Subdivision: None
HOA
- Has HOA: No
Location
- Region: Decatur
Financial & listing details
- Price per square foot: $127/sqft
- Tax assessed value: $274,300
- Annual tax amount: $4,330
- Date on market: 3/22/2025
- Listing terms: Cash,Conventional,FHA,VA Loan
- Ownership: Fee Simple
- Electric utility on property: Yes
- Road surface type: Asphalt
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