Approved Multifamily Development
For Sale
$900,000
1055 Lancashire Circle Stone, Stone Mountain, GA 30083
Land site approved for 48 grandfathered multifamily units, supported by LIHTC program positioning and Opportunity Zone eligibility.
Property SizeContact for details
Days on Market74
Property Features for 1055 Lancashire Circle Stone
General Information
Standard status
Active
Property subtype
Unimproved Land
Additional Details
Opportunity Zone
Yes
Multifamily Units
48
Amenities
Electricity Available, Natural Gas Available, Sewer Available
Building Details
Year Built
1981
Listing Agency:
T. Dallas Smith & Company
Listed By:
First MLS
(404) 525-8212
Source:
Kw
Added: Jul 4
Changed: Sep 14
Last Checked: Sep 14 at 12:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of T. Dallas Smith & Company
Investment Insights
Based on property information with market context.
This approved land parcel is positioned for ground-up multifamily development, with entitlement for 48 grandfathered multifamily units that exceeds current density codes. The site is described as having by-right entitlement intended to support immediate development capability while avoiding lengthy rezonings and associated costs.
The property is located within a Qualified Opportunity Zone, with the OZ window noted as open through December 31, 2028. Public remarks also indicate potential tax advantages, including capital gains deferral and a 10-year step-up to fair market value.
Development targeting LIHTC programs is specifically called out in the remarks. The site pricing is referenced on a per-door basis, and the offering is described as benefiting from proximity to I-285 and downtown Decatur employment hubs, along with alignment to DeKalb’s affordable housing corridor and complementarity to recent large-scale LIHTC developments within five miles.
The property is located within a Qualified Opportunity Zone, with the OZ window noted as open through December 31, 2028. Public remarks also indicate potential tax advantages, including capital gains deferral and a 10-year step-up to fair market value.
Development targeting LIHTC programs is specifically called out in the remarks. The site pricing is referenced on a per-door basis, and the offering is described as benefiting from proximity to I-285 and downtown Decatur employment hubs, along with alignment to DeKalb’s affordable housing corridor and complementarity to recent large-scale LIHTC developments within five miles.
Key Highlights
- Approved site for 48 grandfathered multifamily units, exceeding current density codes.
- Utilities available: electricity, natural gas, and sewer.
- By‑right entitlement provides immediate development capability without lengthy rezonings.
Property Analytics
Current Use
Lease Details
48
Residential units
Location Intelligence
Trade Area within ½ mile
708
Businesses Nearby
Explore this area
Business Placement
Demographics for 30083, GA
58,064
Population
24,282
Households
2.4
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
17.9 sq mi
ZIP Area
3,244
Density / Sq Mi
$54,162
Median Household Income
$33,586
Median Earnings
$1,356
Median Rent
$221,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Land site approved for 48 grandfathered multifamily units, supported by LIHTC program positioning and Opportunity Zone eligibility.
Where is this residential land & home lot located?
The property is located at 1055 Lancashire Circle Stone Stone Mountain, GA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Approved site for 48 grandfathered multifamily units, exceeding current density codes.; Utilities available: electricity, natural gas, and sewer.; By‑right entitlement provides immediate development capability without lengthy rezonings.
