Islandview is definitely a diamond-in-the-rough, though one that's been seeing small-scale redevelopment for quite a few years, now. The location at the foot of East Grand Boulevard really helps it. The other big thing going for it is the nice mix of land-uses/zoning, so you have land for residential, commercial/retail,
and industrial infill. The eastern end of the Belt Line railroad corridor cuts through the western end of the neighborhood. The track is no longer there, but you could redevelop the warehouses that remain into a lot of legitimately mixed-usages.
End of the physical line at Warren before going south into Islandview:
This could be a new trail, a future light rail connection, an alley...