A small piece of Old Fourth Ward that most people drive past without registering is now for sale. The building at 530 Parkway Drive NE, a red brick structure trimmed in terracotta tile and built sometime in the 1920s, has come to market through Bull Realty/TCN Worldwide with an asking price of $750,000. It sits on a triangular lot roughly half a mile southwest of Ponce City Market, with Central Park immediately to the west and Boulevard a block east.
Today the property operates as a residential triplex totaling 3,720 square feet. Each of the three units has two bedrooms and one bathroom, and each has its own entry at street level. Listing agent Andy Lundsberg, a partner at Bull Realty/TCN Worldwide, says all three apartments will be vacant at closing, which removes the tenant-relocation problem that usually slows a small multifamily conversion.
What the building originally was is an open question. Lundsberg said in an email that neither the brokerage nor the current owner knows much about its early history, and that the conversion to multifamily likely happened 40 or 50 years ago. His own guess is that the structure started as retail or a neighborhood grocery, which would be consistent with the odd triangular footprint and the street-level entries.
The listing carries one significant condition: the seller will not entertain offers contingent on rezoning. That puts the burden on a buyer to work within what the current zoning already allows. Lundsberg points to light commercial use or a live-work arrangement as plausible directions if the zoning supports them, but anyone banking on an entitlement fight before closing is out of the running.
Parking is the other constraint. The property has no off-street spaces, so tenants and any future commercial users would depend entirely on the street. That matters less here than it would elsewhere in the metro. The location scores 82 on Walk Score, 85 on Bike Score and 55 on Transit Score, putting it among the more genuinely walkable addresses on the east side of downtown Atlanta.
For a neighborhood where most development news involves large parcels and eight-figure numbers, a $750,000 building with three empty units and a century of unclear history is a different kind of opportunity. It is the scale of project an individual owner or a small partnership can actually take on, and the outcome will say something about whether Old Fourth Ward still has room for that.
Original reporting: Urbanize Atlanta (2026-07-31)
