Vinings GA Real Estate

Chattahoochee Chase Townhomes

Townhomes, Townhouses, Condos

Atlanta, GA 30339

Map of Area

Chattahoochee Chase Townhomes are well known. You probably do not recognize the name, but you have seen them hundreds of times. As you pass over the Chattahoochee River on I-285, they are positioned right on the rivers banks opposite from Ray’s on the River. If you have looked for a townhome in the 30339 or 30080 zip code, this is probably one community will want to check out.

They were originally constructed around 1970 and I have heard that at one time, they were even apartments. Chattahoochee Chase embraces that modern townhouse style that was popular in the 70s and constructed with wood siding. The builder managed to obtain an incredible piece of river front land that would be all but impossible to obtain today.

Chattahoochee Chase is a perplexing community because of all the properties available inside the perimeter; this community offers the greatest square footage for the smallest price tag, which begs the question, why? Home prices tend to range from only $100k to about $200k.

Chattahoochee Chase is divided into two groups of townhomes, with the first being colorful waterfront homes, 3 levels, many with 1 or two car garages and situated within a gated portion of the community. The second groups of townhomes are mostly two stories, painted grey and strangely enough, located outside the gated portion of the community.

The more colorful units tend to have better floor plans, are more open and for some odd reason, in better repair – in general. While their grey counterparts have a more closed feeling. Each home has a nice back yard, some fenced in, elevated decks and in general each home within Chattahoochee Chase Townhomes has a great deal of square footage. So much so, that for the money, you are bound to be surprised.

The single greatest attribute of Chattahoochee Chase Townhomes is the close proximity of the river, walking trails and open green areas. So why have home prices dragged compared to other nearby communities?

Chattahoochee Chase also is also located next door to some apartment complexes that seem to be a little on the, “rough” side, and while I am uncertain, that may be a contributing factor. Also, many counties are currently updating their maps of potential flood planes and just by appearances, one could see how these townhomes might be sitting on a flood plane today where as they weren’t when they were built. However, over the last 10 years that I have lived around here, I have only seen the river breach its banks once but it did not seem the water reached the townhomes.

The construction quality of these Atlanta townhomes is also not the most desirable compared to modern construction. The wood siding is old and will require a great deal of maintenance and painting, which probably results in higher HOA dues. I have also noticed that there always seem to be plenty of homes for sale within this community.

During my visits to Chattahoochee Chase, there were some homes that have been completely updated while others would require a great deal of TLC in order to bring them up to date. The units requiring some work have probably been responsible for dragging down overall prices.

Now, while I may have been a little too focused on the negatives for Chattahoochee Chase, there are some interesting positives. The first being that I believe these homes are currently VERY undervalued. If the HOA does not have too my restrictions on rentals, this community is the perfect place to purchase a home with the intent on turning it into a rental.

Chattahoochee Chase is also about to get some new neighbors. Directly across the river, zoning hearings have been occurring for the redevelopment of the Powers Ferry Landing office complex. This piece of land stretches from Ray’s on the River all the way down to Olives and will consist of several mid-rise condos, $400k townhomes and $700+ single-family homes. In short, this could drastically alter the real estate values for this community and construction will probably begin in 2006.

I would not however purchase into Chattahoochee Chase with the mindset that a developer will come in and buy out the residents. If Chattahoochee Chase were actually sitting on a flood plane, this would probably eliminate the ability for a homebuilder to do that. Building new homes on a known flood plane is risky at best.

However, if you want to live inside I-285 and own a townhome for less than $200k – this is probably the only choice you will have.

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Chattahoochee Chase Townhouses

Vinings Homes for Sale

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