1860 Penelope Road NW, Atlanta, GA 30314

$699,000

Income-producing property in the heart of Atlanta currently operating as a fully functional hostel on 1.75 acres, anchored by a renovated single-family home and a variety of outdoor accommodations and gathering spaces. The business has averaged approximately $150,000 per year in revenue over the past three years (see agent for… Read More details). The property is set up for both functionality and expansion, featuring secured gated parking, a gravel parking area accommodating up to 6 vehicles and/or RVs, a detached two-car garage and two access points on Penelope Rd. Outdoor features include a raised mulched terrace, fire pit gathering area, and additional cleared space suitable for adding glamping tents or expanding operations. The seller has completed substantial grading and land improvements, including over $15,000 in plantings, mature pecan and black walnut trees, and well-defined usable outdoor space. The property may also offer subdivision potential (buyer to verify) and is within walking distance to the West Lake MARTA station. The property can be purchased as a fully operational, turnkey business + residential property, or as a single family home. Based on historical performance, the property demonstrates strong double-digit cap rate potential and strong cash flow with the ability to significantly outperform traditional rental properties, while also offering the flexibility to be the ultimate house hack. Seller is open to offering seller financing on the business portion and may also consider financing a portion of a buyer's down payment. Seller financing will require appropriate collateral, either through cross-collateralization or a second lien position if seller is bringing a sizable down payment. The operation is built on a highly automated system designed for remote management, including smart home integration (thermostats, locks, lighting, cameras, doorbells, Google Home), and channel management software connecting Airbnb, VRBO, Booking .com, Hostelworld, Beds24, and additional platforms. Systems include automated guest communication, consolidated messaging, direct booking integration, and a payment platform supporting credit card, cash, digital payments, and cryptocurrency, along with reporting and pricing tools. Seller is willing to provide training post-closing to buyer and is open to extended transition support as a paid consultant if desired. The property includes a substantial inventory of assets used in operations, including a 19-foot Red Sky Shelters yurt, 40-foot high cube shipping container, gazebos, storage structures, smart home systems, automated cleaning systems, Polaris four-wheeler, trailers, and full furnishings for guest accommodations and common areas. The main home was renovated in 2020 and includes hardwood floors, tiled bathrooms, and a renovated kitchen with white cabinetry and granite countertops. The layout includes a primary suite on the main level, along with an unfinished basement with interior and exterior access. Major systems including roof, HVAC, and water heater are approximately 5 years old. There is additional upside through the potential to add an ADU, expand accommodations, or further develop the property. Information deemed reliable but not guaranteed. Buyer to verify all potential uses and information. Read Less

Listing courtesy of Down Home Properties [email protected]

Listing Snapshot

Days Online

Last Updated

May 5, 2026

Property Type

Other

Lot Size

1.75 Acres

Year Built

1949

MLS Number

10713139

30 Days Snapshot Of 30314

$339k

+27%

(avg) sold price

+60%

homes sold

+30%

(avg) days on market

Snapshot

Area Map

Additional Details

Basement

Exterior Entry, Interior Entry, Partial, Unfinished

Building

Built in 1949, Brick, Stone, Two, House

Community

Boat/Camper/Van Prkg, Walk To Public Transit

Cooling

Ceiling Fan(s), Central Air

Fireplaces

One fireplace

Foundation

Block

Water Features

Water body: NONE

Heating

Central

Home Owner's Association

None

Lot

1.748 acres

Energy Saving

Appliances, Insulation, Thermostat, Water Heater, Low-Flow Fixtures

Parking

Parking Total: 8, Detached, Garage, Over 1 Space per Unit, RV/Boat Parking, Storage

Property

Resale

Sewer

Public Sewer

Taxes

Annual Amount: $4,934, Year: 2025

Utilities

Sewer Connected, Public

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1860 Penelope Road NW

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