Rare Lake Allatoona Investment Opportunity

6 hours ago

Rare Lake Allatoona Investment Opportunity – Over 1 Acre with Pool, Two Buildable Lots, and Endless Potential – Priced $200K Below Area Comps!

🔹 Full Property Description (AdSense-Optimized | 1,200+ Words)

If you’ve been searching for a rare real estate opportunity near Lake Allatoona that combines location, land, lifestyle, and massive investment potential, this property stands in a class of its own. Priced approximately $200,000 below area comparables, this 4-bedroom, 3-bathroom home on over one full acre across two separate buildable lots offers an exceptional chance for investors, short-term rental operators, renovators, or owner-occupants ready to build sweat equity.

Located within walking distance to the highly sought-after Wilderness Camp Marina, this property places you right in the heart of one of Georgia’s most desirable lake communities. Whether you’re envisioning a fix-and-flip, a buy-and-hold rental, an Airbnb income producer, or your own private lake-side retreat, the possibilities here are truly endless.

🏡 Rare Dual-Lot Opportunity – Build, Sell, or Expand

One of the most valuable features of this property is its two separate lots, each measuring over half an acre. You have the flexibility to:

Keep both lots for maximum privacy and yard space

Build a second home on the additional lot

Sell the second lot as a buildable investment parcel

Develop guest housing, a workshop, or future rental unit

This flexibility alone makes the property incredibly attractive for investors seeking multiple exit strategies.

🚗 Welcoming Arrival with Abundant Parking

As you arrive, a large semi-circle driveway provides generous parking space for guests, boats, and multiple vehicles. The driveway leads to a two-car carport, offering covered parking and convenient access to the home. A charming covered front porch welcomes you inside, setting the tone for relaxed lake-area living.

🏠 Spacious Interior with Character and Natural Light

Step inside and you’re greeted by a massive living room featuring:

Exposed wooden beams

Vaulted ceilings

A wood-burning fireplace

Open sightlines into the kitchen

Direct access to the screened-in porch

This large, open concept living space is ideal for entertaining, family gatherings, or hosting guests in a vacation rental environment. With some cosmetic updates, this could quickly become a show-stopping centerpiece of the home.

🍽️ Upgraded Kitchen with Dining Space

The large kitchen offers generous room for cooking and entertaining. Features include:

New granite countertops

Abundant cabinet and countertop storage

Bar overhang ideal for barstools and casual meals

Spacious dedicated dining area

With just a few finishing touches, this kitchen could easily rival homes priced far above this property’s current asking price.

🛏️ Luxury-Sized Primary Suite with Private Deck

The expansive primary bedroom suite serves as a true retreat. It includes:

A private deck overlooking the backyard

A fireplace for cozy evenings

A spacious En-suite bathroom

Double vanity

Jacuzzi tub

Tub/shower combo

This suite alone adds tremendous value for both homeowners and short-term rental guests seeking comfort and privacy.

🛌 Additional Bedrooms & Functional Layout

Upstairs, you’ll find three generously sized bedrooms along with a second full bathroom featuring:

Large vanity

Tub/shower combination

Whether you’re housing family, guests, or renters, the layout offers comfort and functionality with plenty of space to spread out.

🏗️ Massive Finished Basement – Incredible Potential

The huge basement level significantly expands the livable square footage and income-generating potential of the property. This space includes:

Large recreation room or second living area

Full bar area ideal for entertaining

Another fireplace

A full bathroom

An additional large room that can be repurposed as:

A 5th bedroom

Media room

Home gym

Office

Game room

There is also direct access to the garage area from the basement, making this space highly functional and adaptable for multiple uses.

🌴 Outdoor Living at Its Best – Pool, Deck & Entertainment Spaces

The outdoor areas are truly a standout feature. A massive deck wraps around an above-ground pool, making it perfect for:

Summer entertaining

Vacation rental guests

Family get-togethers

Weekend relaxation

Overlooking the pool is a small outbuilding located directly on the deck, already outfitted to serve as a potential:

Pool house

Bar area

Snack or serving station

Outdoor entertainment lounge

Additionally, there is a screened-in porch for bug-free outdoor living and a separate storage building offering ample space for tools, lake gear, or seasonal equipment.

🌳 Private Setting with Room to Expand

The home sits on a private lot surrounded by mature trees, giving you rarity, privacy, and space all in one. With over an acre of combined land between both parcels, there’s ample room for:

Expansion

Gardens

RV or boat storage

Additional buildings

Outdoor recreation areas

📍 Prime Location Near Lake Allatoona

Properties located within walking distance to Lake Allatoona and Wilderness Camp Marina are extremely rare—especially at this price point. Living here gives you immediate access to:

Boating

Fishing

Jet skiing

Paddleboarding

Lakeside dining

Outdoor recreation trails

This proximity alone makes this property especially attractive for the short-term rental market.

🔨 Perfect for Multiple Investment Strategies

This property is priced well below market value specifically to reflect the need for cosmetic updates—creating instant equity for the right buyer. It is ideally suited for:

✅ Fix & Flip investors

✅ Buy & Hold rental investors

✅ Airbnb & short-term rental operators

✅ House hackers

✅ Owner-occupants wanting to build equity

With the size, layout, location, exterior features, and dual-lot advantage, the ROI potential is significant.

💡 Value-Add Opportunities

With renovated homes in the area selling far above this list price, the value-add opportunities include:

Updating flooring, paint, lighting, and fixtures

Enhancing the kitchen and bathrooms

Modernizing the pool area

Finishing basement improvements

Developing the second lot

Each improvement directly increases property value, rental income potential, and long-term appreciation.

💰 Priced to Sell – Not a Typo!

This is not a distressed fire sale—it is a strategically priced opportunity for a knowledgeable buyer. At nearly $200,000 below comparable properties, this home offers built-in equity from day one.

Opportunities like this—with land, location, lake proximity, pool, basement, and dual lots—are becoming increasingly rare in today’s market.

✅ Summary of Key Features

4 Bedrooms / 3 Bathrooms

Two Separate Buildable Lots (Over 1 Acre Total)

Walking Distance to Lake Allatoona & Marina

Pool with Surrounding Deck

Pool House / Bar Outbuilding

Massive Basement with Bar & Full Bath

Private Master Suite with Deck & Fireplace

New Granite in the Kitchen

Screened-In Porch

Storage Building

Semi-Circle Driveway

2-Car Carport

Huge Investment Potential

Priced ~$200K Below Area Comps

🔑 Final Thoughts

This is a rare chance to acquire a unique, versatile, and high-upside lake-area property at a price point that simply does not exist for comparable homes within walking distance to Lake Allatoona. Whether you’re planning to renovate and resell, build a short-term rental empire, hold for appreciation, or create your own dream property near the lake, this home checks every box.

With solid bones, incredible outdoor amenities, dual lots, and a location that continues to grow in demand, this opportunity will not last long.

Schedule your showing today before this rare gem is gone.