I'm looking around Atlanta for a good place to invest in. Do any of you have experience in Doraville? it's priced a lot lower than neighboring communities (e.g. chamblee).
There is the new development - Assembly (replacing the old GM plant) that's coming in so the area seems to be on an upswing. What do you guys think?
Most likely i'd be looking into an SFR.
any guidance would be helpful
Doraville has a reputation as very much lower income/blue collar. The Buford Highway corridor is awfully sketchy. However, development is certainly heading that way north up Peachtree Industrial / through Chamblee so I could see doing alright if you buy right. I would buy as far north and west as possible towards the border of Chamble/Dunwoody.
Thanks Adam. Good points. My thinking is that Doraville is the next potential place to pick up a property as Chamblee is pretty much located similarly to Doraville (proximity to Buford Hwy, and therefore crime/whatnot), but is in another league price wise.
Right now i'm seeing an average in chamblee of 440k, with a high of 870k - that's rich.
Doraville is 288k & 392K respectively (that's minus a handful of properties that are being sold together for the land value at the intersection of 285 & P'tree Ind).
that's where my heads at. I'll keep the North & West notion in mind as i do my due diligence.
@Ror M. I think you can do well in Doraville. It's "convenient" to the inner city. There's some improvement in the area. I've not studied how it fast it moves, but it's evident.
I like it to because you can get decent rent yield and *hope* for appreciation. To me, that's the best way to invest in Atlanta. Go for both.
I'd suggest studying the Elementary Schools, stack rank them, and figure out how to buy in the best area. As the kids move to middle, scores/reputation will follow and your investment will appreciate.
I recently moved to the Doraville area. I doubt I have as much knowledge about the area as you do Adam, but it seems like a nice area in my month and a half here. I definitely agree with the blue collar comment, though. That describes my neighborhood very well.
@Ror M. Don't know if you decided to pull the trigger or not in this area since it's been some time since you posted, but IMHO Blue collar is certainly not a bad thing as it describes working people, even if at a lower pay grade. Crime would be the concern and if it is not a war zone it will probably be a good rental area until the appreciation happens through the new development. Keeping in touch with @Paul Smythe would be a good idea as well as regularly driving, walking and visiting in general to get a feel for the different streets where you're considering investing.
Yeah I'm definitely interested to hear Ror. Honestly I'm not sure what areas Adam was referring to on the Buford Highway corridor. I have yet to feel any sort of sketchiness in the area. I want to note again that I've only lived here for a short period of time and could possibly be biased because I've invested in the area, but I've never gotten a sketchy vibe here and I live directly off Buford Highway.
Hello @Rob M
Doraville is definitely on the rise I currently still have a full time job at nalley Lexus and they just broke ground on the old GM plant .
So it's in the transition stage and now the time. I've been looking into the area also hope this helps.
@Paul Smythe Thank you for your comment. I believe that at times we allow our opinions to be influenced by assumptions or perceptions. Doraville is largely populated by immigrants but that doesn't mean the crime rate is higher than in other areas. Good for you to be invested there. I think you're positioned to reap a nice reward in addition to how accessible your area is with the development as confirmed by @Account Closed .