1055 Lancashire Circle, Stone Mountain, GA 30083
- $900,000
- List Price
- $900,000
- MLS#
- 7799189
- Status
- ACTIVE
- Type
- Land
- Subtype
- Multi Family
- Lot Size
- 3.126
- Subdivision
- Lancashire Court Ltd (Phase Ii)
Property Description
The site is approved for 48 grandfathered multifamily units, exceeding current density codes, and is positioned for ground-up development targeting LIHTC programs. By-right entitlement provides immediate development capability while avoiding lengthy rezonings and significant associated costs. Situated within a Qualified Opportunity Zone (QOZ), the property provides potential for substantial tax advantages, including capital gains deferral and a 10-year step-up to fair market value, with the OZ window open through December 31, 2028. At a competitive basis of $18,646 per door, the site pricing remains well below replacement costs and recent land transactions in the area. The property benefits from strong demand drivers: proximity to I-285 and downtown Decatur employment hubs, integration into DeKalb’s affordable housing corridor, and complementarity to recent large-scale LIHTC developments delivering within five miles. As institutional absorption continues in the submarket, this parcel is ideally suited for developers seeking scalable investment in an area familiar to DCA underwriters with a demonstrated record of program success.
Additional Information
- Year Built
- 1981
- Neighborhood Amenities
- None
- Lot Dimensions
- x
- Lot Desc
- Level
- Elementary School
- Stone Mill
- Middle School
- Stone Mountain
- High School
- Stone Mountain
- Acres
- 3.13
- Taxes
- $1,383
Listing courtesy of T. Dallas Smith & Company, LLC.
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