This unique property includes an additional 25' x 125' adjacent vacant lot (307 Atlanta Ave), creating a rare oversized lakefront opportunity with multiple development options. Potential uses include building a single-family home or a two-unit building on 305 Atlanta Ave, a single-family home on 307 Atlanta Ave, combining both parcels for a larger custom residence, or developing as a Planned Unit Development (PUD). Whether you're seeking a nostalgic beach cottage, investment property, or prime redevelopment site, this exceptional lakefront location offers endless possibilities. Step out the back door directly onto the scenic walking path that circles the lake, putting recreation and community events right at your doorstep. The lake park features the Brandy Myers Playground, Stingray Amphitheater, the popular Saturday Carolina Beach Market (May-September), and Movies at the Lake on summer Sunday evenings. Just a short stroll to the Atlanta Ave beach access for sun-filled days by the ocean or Thursday night fireworks. You can also walk or bike to the lively Carolina Beach Boardwalk, Britt's Donuts, local shops, bars and restaurants. Conveniently located near Carolina Beach Elementary School. There is a 1940 beach cottage on the property. It is a non-conforming structure.