524 Vine St - Apartments FOR SALE


Athens, GA 30601- Eastside Athens
$2,250,000 USD
678-859-6110
524 Vine St, Athens, GA for Sale
$2,250,000 USD
Apartments - FOR SALE
1/5
null | 7.12% Cap Rate

524 Vine St
Athens, GA 30601
Eastside Athens


HIGHLIGHTS

  • 28 Units, All 1BR/1BA
  • 100% Occupied
  • $160,125 NOI
  • 7.12% Cap Rate
  • 1.49 Acres in East Athens
  • Additional 1,500 SF Residence On-Site

OVERVIEW

PROPERTY DESCRIPTION: 524 Vine Street is a 28-unit apartment complex situated on 1.49 acres in East Athens, less than a mile from downtown and the University of Georgia campus. All 28 units are one-bedroom, one-bath, giving the property a consistent, easy-to-manage unit mix. The complex is currently 100% occupied with an NOI of $160,125. The 14,760 SF building was constructed in 1985 on a 1.49-acre site in East Athens. The site also includes a 1,500 SF single-family residence that offers a buyer additional income potential through renovation and rental, or possible conversion to a duplex, subject to applicable zoning. LOCATION DESCRIPTION: 524 Vine Street sits in the East Athens neighborhood, directly accessible from Vine Street in Athens-Clarke County. The property is within a short distance of downtown Athens, the University of Georgia, and Athens Regional Medical Center, placing it in a rental market with consistent year-round demand supported by the area's proximity to major employers, the University of Georgia, and Athens Regional Medical Center. East Athens has seen continued investment in recent years as demand for workforce and affordable housing near the UGA campus has grown. The area’s proximity to downtown employers, transit routes, and UGA’s expanding footprint supports stable occupancy for well-maintained multifamily properties at this price point.

FOR SALE DETAILS

PRICE

$2,250,000 USD

PRICE/SF

$152 USD /SF

# OF UNITS

28

PRICE/UNIT

$80,357

CAP RATE

7.12%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

28-Unit Multifamily | East Athens, GA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1985

PARKING SPACES

27

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

RM-2

APN/PARCEL ID

172A4-B-002

ASK ABOUT THIS PROPERTY

Brian ElrodNAI Elrod GroupMore Info
678-859-6110

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Brian ElrodNAI Elrod GroupMore Info
678-859-6110

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.