tomo logo

$4,670,000

Beds
8
Baths
9.5
sq ft
Unknown

2972 Lookout Pl NE, Atlanta, GA 30305

2972 Lookout Pl NE

Atlanta, GA 30305

  • 76 days on market
Live/Work/Rent in the heart of Buckhead in a custom built 8-bedroom 9500 sq. ft. home with an additional 2400 sq. ft of storage, and a 3-car garage. Unique property zoned residential/commercial. Use the entire space yourself or utilize the opportunity for either full or partial lucrative income producing aspects the property offers. Detached and separate entrances in every access point of this property. Located in Garden Hills walkable to all area restaurants, the Streets of Buckhead, parks, and area businesses. Close to both I-75, I-85, and GA 400 with easy ways to quickly access your destination. Use your entrepreneurial imagination on the best use and utilization of this property. Perfect for in town living, multigenerational living, a Bed and Breakfast, Chef inspired meals with Wine Tastings, Wedding Venue, with an office area on the bottom floor to privately meet clients. The office is the Ultimate Professional Space** - Four beautifully appointed individual offices, two with full baths - A reception area for your clients, including a handicapped-accessible bath - A break room - A conference room - A separate entrance featuring its own gourmet kitchen, two full baths, and exclusive meeting space. Take the elevator from your office to the additional levels of the home which you can arrange with your vision in mind. The elevator will take you to the 2nd floor which opens to A chef’s and caterer’s kitchen equipped with premium Wolf/Subzero appliances, four sinks, two dishwashers, and a butler's pantry -Nest Utilities tankless water heaters, AC units with ERV ventilation, Spray in insulation for energy control and efficiency - A 600 Bottle wine room that is temperature-controlled for the connoisseur - Four bedrooms, each with a private en suite bathroom and walk-in closets - Steam room/shower in master shower - A spacious and elegant dining area, perfect for casual or lavish entertaining. The two-story carriage house can be accessed via the elevator, or by simply walking to the separate entrance. The carriage house has a spacious open area on the bottom floor for multi-purpose use. The 2nd level of the Carriage House has 2 bedrooms with en suite bathrooms, an open floor plan, and a chef’s kitchen. Perfect structure for a long-term rental, to house extended family members, VRBO, or utilize to entertain guest or business associates. A Rare Buckhead find offering an opportunity to own a property with both commercial and residential zoning. This versatile property not only promises high rental yields but also provides the flexibility to adapt the property to your vision. The property is within walking distance of the Atlanta International School, and close to many of the area's top public and private schools. The home is priced below the appraised value.

Details

Property type

Single Family Residence

Lot size

9,801 sq ft

Price per sq ft

Unknown

Year built

2016

Annual property taxes

$13,116

HOA

No

Price History

08/21/2024
FMLS

FMLS #7442574

Listed
$4,670,000
08/19/2024
FMLS

FMLS #7422832

Removed
$4,670,000
08/06/2024
FMLS

FMLS #7422832

Price change
$4,670,000
+1.52%

Schools & Community

Neighborhood: 

Garden Hills

Elementary school: 

Garden Hills

Middle school: 

Fulton - Other

High school: 

North Atlanta

Seller’s Loan History

Before you make an offer, understand who you are negotiating with so you can tailor your negotiation strategy to their situation.

Lender

First Horizon

Loan start date

December 2021

Original loan amount

$904,000

Est. remaining balance

$756,705

Interest rate

2.35%

Loan type

New Conventional, 15 year

Seller

Glenn F Drake and Bernardine W Drake

Lender

Iberiabank

Loan start date

October 2017

Original loan amount

$250,000

Est. remaining balance

Not provided

Interest rate

3.78%

Loan type

Commercial, 30 year

Seller

Glenn F Drake and Bernadine W Drake

Lender

Iberiabank

Loan start date

June 2016

Original loan amount

$1,000,000

Est. remaining balance

Not provided

Interest rate

2.86%

Loan type

Commercial, 11 year

Seller

Glenn F Drake and Bernardine W Drake

Source: Public records data

If you're the owner, you can request to remove loan details. Email listingsupport@tomo.com

How insights can help you

Interest rate

If the seller has a low interest rate, they may be tempted to rent the property out if they can't get the price they have in mind.

Motivation

If the seller already got a job in a different city, they may feel pressure to sell quickly to free up cash for a new home.

Equity

If the seller stands to receive a large amount of cash when they sell the property, they might be willing to negotiate on the offer price.

Interested in learning more?

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Status: Active

Tomo last checked: 11/05/2024 at 8:35 AM

Listing updated: 10/21/2024 at 4:20 AM

Listed by: Allison Drake, Drake Realty, Inc Phone #: (770) 565-2044

MLS: FMLS #7442574

FMLS logo

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