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
$320,000
5181 Covington Hwy, Decatur, GA 30035
3beds
1,264sqft
Est.:
Single Family Residence
Built in 1935
2.6 Acres Lot
$314,500 Zestimate®
$253/sqft
$-- HOA
What's special
- 116 days
- on Zillow |
- 126 |
- 5 |
Zillow last checked: 7 hours ago
Listing updated: May 09, 2025 at 11:06am
Listed by:
Kimberly Branch 404-702-4486,
Keller Williams Realty Atl. Partners,
Eric C Render 678-489-1149,
Keller Williams Realty Atl. Partners
Source: GAMLS,MLS#: 10488862

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 1
- Full bathrooms: 1
- Main level bathrooms: 1
- Main level bedrooms: 3
Rooms
- Room types: Family Room, Foyer
Heating
- Central
Cooling
- Central Air
Appliances
- Included: Dishwasher, Gas Water Heater, Microwave, Oven/Range (Combo)
- Laundry: Common Area
Features
- Other
- Flooring: Carpet, Hardwood, Tile
- Basement: None
- Has fireplace: No
Interior area
- Total structure area: 1,264
- Total interior livable area: 1,264 sqft
- Finished area above ground: 1,264
- Finished area below ground: 0
Property
Parking
- Parking features: Parking Pad
- Has uncovered spaces: Yes
Features
- Levels: One
- Stories: 1
Lot
- Size: 2.6 Acres
- Features: None
Details
- Parcel number: 15 161 02 002
- Special conditions: As Is,No Disclosure
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow/Cottage
- Property subtype: Single Family Residence
Materials
- Stone
- Roof: Composition
Condition
- Resale
- New construction: No
- Year built: 1935
Utilities & green energy
- Electric: 220 Volts
- Sewer: Septic Tank
- Water: Public
- Utilities for property: Cable Available, Electricity Available, High Speed Internet, Natural Gas Available
Community & HOA
Community
- Features: None
- Subdivision: None
HOA
- Has HOA: No
- Services included: None
Location
- Region: Decatur
Financial & listing details
- Price per square foot: $253/sqft
- Tax assessed value: $139,200
- Annual tax amount: $2,438
- Date on market: 3/29/2025
- Listing agreement: Exclusive Agency
- Listing terms: Cash,Conventional,FHA,VA Loan
- Electric utility on property: Yes
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