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For $425K, O4W Townhome Project Craves Intrepid Buyer

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A project consisting of four Georgetown-style townhomes is ready to rock in the Old Fourth Ward — just as soon as somebody buys the land and coughs up the funds to build it. On the market for 75 days, this Lucy Street listing is about as spec as spec gets, but it could yield a long-term payoff, especially with the Atlanta Streetcar and burgeoning Edgewood Avenue about two blocks away. For $425,000, a buyer gets four rezoned and consolidated lots on the downtown side of Boulevard. The deal appears to include plans for four shovel-ready townhomes with rooftop terraces that should boast scintillating views. Another unique perk: Each home would have a detached, two-story garage with an office space over the vehicle slots. This section of O4W has undergone a drastic cleanup in recent years — what was the nickname of that decrepit prostitution tower near Decatur Street? — but it wouldn't yet be confused with Mayberry. So finding buyers on the back end might not be a walk in the park.

· 71 Lucy St. [Redfin]