1055 Lancashire CIR, Stone Mountain, GA 30083
$900,000
Est. payment /mo
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3.13 Acres Lot
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1055 Lancashire CIR Stone Mountain, GA 30083

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Sherry Ajluni

Sherry Ajluni

+1(678) 283-1710

UPDATED:

Key Details

Property Type Vacant Land

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Subdivision Lancashire Court Ltd (Phase Ii)

MLS Listing ID 7799189

HOA Y/N No

Year Built 1981

Annual Tax Amount $1,383

Tax Year 2025

Lot Size 3.126 Acres

Acres 3.126

Property Sub-Type Multi Family

Source First Multiple Listing Service

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.

Location

State GA

County Dekalb

Area Lancashire Court Ltd (Phase Ii)

Zoning X

Lake Name None

Rooms

Other Rooms None

Interior

Equipment None

Exterior

Fence None

Community Features None

Utilities Available Electricity Available, Natural Gas Available, Sewer Available

Waterfront Description None

View Y/N Yes

View Other

Present Use Other

Street Surface None

Private Pool false

Building

Lot Description Level

Schools

Elementary Schools Stone Mill

Middle Schools Stone Mountain

High Schools Stone Mountain

Others

Senior Community no

Special Circumstances Investor Owned

First Multiple Listing Service(FMLS)
Listed by T. Dallas Smith & Company, LLC

NEARBY SCHOOL & BUSINESS

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Sherry Ajluni

Sherry Ajluni

Team Leader | License ID: 289349

+1(678) 283-1710

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1055 Lancashire CIR

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